Augh! I can’t believe Congress will pass this, but Obama wants bigger subsidies for the Volt, bumping it up to $10,000 per car (I guess an $8,000 discount for the wealthy and pretentious just wasn’t enough…).
A couple things. First, the Nissan Leaf is a more popular electric car and it’s not subsidized. Why are we picking winners and losers?
Next, this is all reminiscent of stimulus. The White House tries some expensive scheme, it doesn’t work, and the answer is more. Will there ever be a point where one of these schemes can be declared a failure? Are there any benchmarks for success? There doesn’t seem to be any point where we can say “this doesn’t work” and that seems like a very bad thing to me.
Third, and as an aside, I am really coming to despise GM. I wish the Occupy Wall Street folks would go after this sort of cronyism.