1. This is clearly another bailout program.. bailout people who own older cars and want a new one.
2. It puts operational cars in the junk yard prematurely.. is this really environmentally smart? A 2 mile per gallon increase is not enough gas savings to justify filling landfills with working cars.
3. MOST IMPORTANTLY: Most people drove clunkers because of their financial situation. It is NOT smart to use taxpayer money to encourage clunker owners to buy a new car on CREDIT. I predict there will be a large number of repossessions of these new cars within the next year. How does someone who can afford only a clunker suddenly afford a new car? They don't. This is another financial crisis in the making.