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It is also a transfer from future taxpayers to wealthy bondholders (including the Chinese government), since 100% of this program is funded with borrowed money.
by ckinnan 17y ago
It is also a transfer from future taxpayers to wealthy bondholders (including the Chinese government), since 100% of this program is funded with borrowed money.
At $3 billion, the new program size, Cash for Clunkers is four times larger than the U.S. government breast cancer research program. It says something about American priorities.
- roc 17y agoOnly if breast cancer research is underfunded. Not that this is a particularly good use of $3B. But the fact that it exists does not speak directly to American priorities.