There is no end to the friggin’ folly contained in the unread stimulus bill:
Latest in Stimulus: ‘Cash for Refrigerators’
A $300 million cash-for-clunkers-type federal program to boost sales of energy-efficient home appliances provides a glimmer of hope for beleaguered makers of washing machines and dishwashers, but it’s probably not enough to lift companies such as Whirlpool (NYSE:WHR – News) and Electrolux out of the worst down cycle in the sector’s history.
Beginning late this fall, the program authorizes rebates of $50 to $200 for purchases of high-efficiency household appliances. The money is part of the broader economic stimulus bill passed earlier this year. Program details will vary by state, and the Energy Dept. has set a deadline of Oct. 15 for states to file formal applications. The Energy Dept. expects the bulk of the $300 million to be awarded by the end of November. (Unlike the clunkers auto program, consumers won’t have to trade in their old appliances.)
Via Sweetness and Light, who points out,
this really not like ‘cash for clunkers,’ since there is no trade in. It is just Mr. Obama trying to induce people into buying “greener” appliances.
And yet it is just as bad for the environment as the cash for clunkers deal was.
For the old appliances will end up in a landfill. And making new appliances will be harder on the environment than using the old ones.
And it isn’t even real stimulus, since it is not creating something we don’t have but need.
Waste, waste and more waste…like most anything coming out of Washington these days.