Hey, who’s up for another homebuyer tax credit?

Hot Air ^ | June 25, 2010 | Ed Morrissey

[C19fan]

The popular definition of insanity is doing the same thing over and over again and getting a different result. After the Cash for Clunkers program failed to do anything more than steal sales from the future and two successive homebuyer tax credits had the same effect while burning up billions of taxpayer dollars, what would the truly insane suggest as a response? Oh, let’s not always see the same hands (via King Banaian):

Cristian de Ritis, a director at Moody’s Economy.com, told SNL that the consensus estimate was for a pace of 420,000, with Moody’s Economy.com projecting a rate of 425,000. He expected the tax credit to pique buyer interest in a manner that would carry over for months following the credit’s expiration.

[C19fan]

If Cristian thought that he is a fool. What economic rationale did he come up with that people who went house shopping because of the credit would still buy something after the tax credit expired? One thing to keep in mind Economy.com is in bed with Zero, Pelosi and Reid. It is too bad their brown noising for that trio has lead to horrible economic analysis. I would expect such pie in the sky thinking from the National Association of Realtors.

[cranked]

Throwing more money into a wind turbine would be more of a prudent act.....

[BobP]

YOUR TAX DOLLARS AT WORK - WAKE UP AMERICA

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[E. Pluribus Unum]

We are all redistributionists now.

[Right Brother]

The popular definition of insanity is doing the same thing over and over again and getting expecting a different result.

That's better.