Skip to comments.Morning Bell: Cash for Clunkers, A Case Study in Why Obamanomics Is Failing
Posted on 07/31/2009 9:02:07 AM PDT by Nachum
If you watch television youve seen the ads: So bring in that old jalopy and get up to $4500 towards the purchase of a new or select used vehicle. Thats right get up to $4500 for that old piece of junk, plus you keep the rebates. You have to hurry! Since funds are limited for this program its first come first served! Well were about to find out just how limited those funds were. The Obama administrations cash-for-clunkers program has been such a success that in just the first week of full implementation, the $1 billion originally allocated for the program is about to be exhausted already. Does this mean the program is over? We dont know. Nobody does. And that is just the beginning of why this program is a perfect illustration of why Obamanomics will fail.
(Excerpt) Read more at blog.heritage.org ...
What a joke. This billion dollars is more than the stimulus package. Gone in a week. That’s 222,000 cars sold and free money to those with clunkers(ie. democrats). And they are voting to double it. All funded by increased national debt.
How about calling your congress critter’s constituent services office? This clearly falls in their purview, as it’s a gov’t program at issue.
I was so proud of her!
I can’t believe the great looking “clunkers” that are being traded in. Most look much better than the 81 truck and 90 Honda I have, both of which are paid for and run great.
I was really offended to see that the “clunkers” have to been completely destroyed and their parts cannot enter the secondary marketplace, artificially driving up the cost of parts for those who see no need to buy a new car or truck that only gets 2 MPG better than their old truck.
And what happened to “Reduce, REUSE, RECYCLE” and how does the environmental cost of manufacturing brand new cars beat the cost of reusing an older car with many more years of life?
And on its way to being a $3 billion PR stunt.
Yeah, he is on my list. i also plan on emailing the Office of inspector general and reporting this as a possible case of fraud under the CARS program.
Per WJR radio Detroit, congress is rushing though, another 2 Billion for this program.
Don’t see how this well help me get a job however, (or anyone else unemployed)?
Or, “Cash for Cripples!”
I have heard that the most FREQUENTLY bought new car has been a LEXUS!!
The Clunkers"R"Us government just declared the popular 'Clunkers for Cash' CARS program a success and, before going home, "found" another $2B to extend the program. As luck would have it, the money was in the same place Congress "found" the first $1B of "free money" that people burned through faster than was expected.
Democratic (program, President, politician, policy, intervention etc.) = popular and historic Republican (program, President, politician, policy, war etc.) = unpopular and controversial
If this incentive (our tax dollars) creates such great demand, imagine the overwhelming demand if our tax dollars fund 100% of the purchase price of a new car!
Its magic I tell ya, its magic!
Ding, ding, ding! Stop FR. - We have the FR Post of the Day.
liberalism is a mental disorder.
That's amusing. Much of the money will head out of the country to Toyota, then we'll have to pay back the money we borrowed to fund this to our foreign lenders. Some stimulus!
The truck was probably worth about $2000 on Craigslist, even if it has high mileage. Truck mileage hasn't changed much in 20 years, maybe it gets 12mpg instead of 15. What a stupid waste, to take something useful and valuable and destroy it. And then, to add insult to injury, they add to the national debt by $4500 each time they do it. It was hard to watch them ruin that vehicle.
no gubmint program is EVER a failure, it’s just “underfunded”.