Cash For Clunkers! Please…

Government to you: Yes, we can give you $4,500 for this hunk of sh*t…

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There’s been some excitement out of there over the government’s “Cash for Clunkers” program in which people are bribed $4,500 for trading in an old car for a new one.

Sweet deal, unless you don’t need a car or don’t work in the automotive industry.

The program’s cost taxpayers about $1 billion so far, and another $2 billion in Cash for Clunkers incentives are on the way.

Why complain? After all, we’ve spent trillions of dollars on the bailout. What’s a few billion more?

That’s a good point. But consider the following:

Incentives for Japanese cars – the ones everyone’s buying with their Cash for Clunkers are already at record highs, and car dealers have already been friendly when it comes to striking a deal.

And what about the regular guy who needs to sell his used car, but doesn’t want another car? He’s screwed because used car prices are going to collapse.

CNBC’s Jim Cramer said the program is “going to put people to work” and stimulate the economy “for real.” But Cash for Clunkers is an attempt to temporarily prop up a troubled industry in the hope that the economy will turn around before the roof collapses.

And how long can any positive effects of this program possibly last? Even with the bonuses, consumers will be taking on more debt while unemployment is rising.

If you’re smart and in need of a car, I hope you consider a low-priced used model a few months down the road. Used cars are going to be dirt-cheap and good buys – so perhaps you won’t be taking on any debt to fund the purchase.

By the way, government, if you’re reading this: please institute a “Cash for Canon Camera Lenses” program. I REALLY need a bonus for my old crappy lenses so I can buy a new wide-angle lens.

Come on! It’s only 2 grand!