"The 'cash for clunkers' program is a great example of how ill-conceived stimulus programs can leave the nation even further behind the debt eight ball," said Alan Tonelson, research fellow at the U.S. Business and Industry Council, which represents 1,900 small and medium-sized domestic manufacturers.

"Because the program lacked any 'Buy American' or U.S.-content requirements, U.S. government figures show that it mainly spurred the purchase of foreign-brand autos, which remain largely imported and [whose U.S.-assembled vehicles] typically contain high levels of foreign-made parts," Mr. Tonelson said.

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