Our government is wasting money with a religious frenzy. We are bailing out failed Wall Street banks with hundreds of billions of dollars so these banks can pay their executives their millions in salaries and bonuses.
We are bailing out the housing industry with hundreds of billions of dollars in loans, tax incentives and giveaways to keep overpriced houses overpriced.
Now the government has come up with perhaps its most brain dead proposal this year. Congress is giving a $3500 to $4500 credit to scrap an old car if one buys a new car.
This bill is of course lousy for the environment. Even if the new car is much more efficient than the old car, the emissions from the energy required to build the new car will far outstrip whatever emissions were left in the older car.
Also this is money that could go to building mass transit or high speed rail. Instead the government has decided to invest more money in our energy inefficient automobile system.
Our government is again spending more money that will directly cause our planet to use more energy and more oil. Most of the experts believe that we are already at or near peak oil.
We are racing towards the edge of the cliff and the federal government has its foot on the accelerator.