Cash for Clunkers is a clunker

Is it just me, or is there something very, very wrong with the "cash for clunkers" mentality? Destroying working cars is a bizarre 180 on the depression-era approach of scrimping, saving, and making do with what you have. Giving people money that is not their own to encourage them to take out loans for cars they don't really need is even more wacko. Now that we have proof based on simple engineering calculations (which anyone could have surmised) that it is actually more harmful to the environment to produce a new car than to keep driving an old one, there is no good reason imaginable for this program. I'll keep driving my two clunkers (combined age of 27 years) as long as they will keep going. I have no car payments, so I tolerate the inevitable repair bills. As a bonus, my car tags are really cheap. Of course I understand the theory that this will kickstart the economy, but what happens in a few months? Even if the economy does pick up in general, the auto industry will be in a pickle because everyone already bought their new cars, and loan defaults will probably skyrocket - I don't imagine the dealers are being really picky about who they sell to right now. I hope the health care package includes ulcer treatment; I think I'll need it.