I'd Laugh If It Weren't True. $23M Pissed Away In A DAY

The State of Texas offered $23,000,000 a few at a time to help people pay for new, energy-efficient home appliances. The deal was, you would call a special phone number or hit a special web site to reserve your voucher for a "rebate."

The system opened for business in the morning with reports of continual busy signals and a constantly-down website. One fool thief on Twitter reported that she had missed an hour of work trying to get in the proverbial door. Well she better not have given up to try the next day.

The phone lines melted and the server's head asplode. The State reported 1,000 phone calls per minute and 1,700 hits per second on the website. By mid-afternoon, all $23M was spoken for.

The State will now rob from my family at gunpoint so you can have an Energy Star rated fridge. And I benefit from this, how, exactly? Moochers. This is catering to the parasite class. Besides which it won't work. Just like cash for clunkers and the first time homebuyers' tax credit, it can only push demand forward. Someone who was going to buy a dishwasher this year bought it this month instead of in July. Zero net gain for the manufacturer and an induced slump in sales after the rebate-inspired purchases are all made. No doubt this, like the aforementioned Federal programs, will be hailed as a tremendous success because the moochers ate up all the Free in record time. Then it will be reported not to have made a difference to the economy.

Thanks Texas, that was a great idea.