Our Views: ; Cash for Clunkers Is a Sensible Idea; If the Government Must Stimulate the Economy, This Was the Way to Go

Summary

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AMERICA'S dependence on foreign oil - particularly that not produced in Canada or Mexico - is a national security threat. Last summer, the hue and cry was for opening oil drilling within the United States. Sadly, with the election of a Democratic president and large Democratic majorities in Congress, that path to energy independence is temporarily blocked.

Reducing oil consumption is a longer and more expensive undertaking. New cars are more energy efficient but there is a sagging market for them as buyers face an economy that has been shrinking at an annual rate of 6 percent over the last nine months.

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Extract

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Our Views: ; Cash for Clunkers Is a Sensible Idea; If the Government Must Stimulate the Economy, This Was the Way to Go

However, the administration and Congress were able to come up w...

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