Pell Grant vs. Cash for Clunkers Program | 08.05.09
Sometimes I wish I was young and naive and didn’t fully understand the implications of government programs like cash for clunkers, which was just extended through Labor Day on Tuesday. Personally I’m all about appreciating assets, not depreciating.
If we’re going to fork over up to $4,500 to anyone shouldn’t it be the students of tomorrow? Students are appreciating assets that will presumably help raise our nations GDP per capita with a solid education under their belt. But instead we’re handing over these discounts/rebates to those driving 15-year old pickup trucks. What am I missing?
Don’t get me wrong, I’m happy for Joe the plumbers cousin Joe Pickup, but when he turns in his old truck to claim his rebate who do you think is paying for that? We the taxpayers are. And while there will be a temporary spike in sales, which will help the economy, that will level off and we will be left to foot the super sized bill.
In contrast the President signed off on an Economic Stimulus bill which increased Pell Grant money by around $600 per student earlier this year. It was met with rave reviews at the time, but seeing a program like cash for clunkers offering $3,500 to $4,500 for your old pickup makes me scratch my head at our nations priorities.
I don’t know about you, but I’d much rather invest in the future of this great nation opposed to those driving gas guzzlers. Until that happens I guess we’ll all just keep on trucking – one clunker at a time.
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