A new theory popularized in Detroit — let’s call it “regunomics” — holds that the more Washington regulates, the better off we all are economically. That means the recession would probably end, and we’d all be back living the high life again, if Washington would simply impose a 100-mile-per gallon CAFE standard on U.S. automakers. This sort of approach worked so well for the business and economic climate in Detroit, it just might work similar miracles for the rest of the country. What’s good for GM, as they used to say, is also good for America.
How an expected $5,000 increase in the cost of a new vehicle will stimulate the economy isn’t clear. But I’m sure there’s a way to make it fit the theory somehow.