Saving Detroit

Here’s an interesting fact. The American Enterprise Institute reports that Census figures show the number of Americans households with three cars is larger than the number with no cars.

We love automobiles. Granted, that love affair has soured a bit through the years. How many of you remember your family car from your childhood? I have home movies with lots of footage of my Dad polishing our new ’60 Buick. Somehow, I don’t think too many of you are taking videos of yourselves like that today. (But then, you probably don’t have cars with tail fins like that ’60 Electra!)

Anyway, AEI also features this essay by Robert W. Hahn and Peter Passell. They argue that, instead of just giving money to auto makers, Congress should direct that money to us in the form of massive rebates.

These would be, say, $3,000 rebates for anyone who buys a car or light truck, and they would apply regardless of car-maker. That way, presumably, American companies would have to work hard to compete for the money.

I don’t know how I feel about this, but it may be worth exploring. I’m sure you’ll agree that just giving money to failing companies makes as much sense as giving a drink to an alcoholic.