Cash for Clunkers Hurt the Poor – and Obama’s Advisers Love It

The Democrats’ “Cash for Clunkers” program had one major impact on the market: it raised the price of used cars almost $2,000 per car in a way that disproportionately hurts the poor. And Obama’s Green Left advisers could not be happier. The automobile industry authority Edmunds.com has found used car prices are up 10.3 percent over last summer. The average used vehicle costs $1,800 more than it … [Read more...]