Remember Cash for Clunkers? That program gave car buyers rebates of up to $4,500 if they traded in less fuel-efficient vehicles for new vehicles with better gas mileage.
But because a lot of the vehicles eligible for the rebate would have sold anyway, taxpayers ended up paying about $24,000 per additional car sale that these incentives produced.
And it looks like Obamacare is in a fierce race to beat Cash for Clunkers to become the poster child for mismanagement of federal taxpayer resources: