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 ...
More Marxist Redistribution of Wealth using our Tax system.
It was a $1 billion PR stunt.
A nation that destroys perfectly good cars, and taxes the public $4500 each time it does so, in order to diminish a “global warming” that doesn’t exist, is a nation that has clearly lost its mind.
It would be interesting to learn how many of these new cars were bought from GM and Chrysler.
If the government can screw up a program like cash-for-clunkers imagine what they can do when they run healthcare.
And your rank and file leftist won’t make any connection between this and the inevitable failure of socialist healthcare.
The demand for something “free” is infinite. Like gravity, it’s not just a good idea, it’s the “law”.
Other people’s money. Of course this is going to be a popular program. They are giving away money via the car dealers.
Is that a record?
LOL - we took advantage of the program and bought a FORD!!!!
We truly needed to replace 97 clunker w/172K miles that got 16 mpg and had electrical problems.
I'm tempted to thank my next door neighbor for sharing his wealth (cash) and making this purchase possible...he was only person in neighborhood who voted for Nobama.
That’s funny but sad too because that’s what it will be coming in one form or the other.
On average there were ONLY twelve $4,500 “deals” per dealership in the US. And if we ask which “deals” were honored - and in what zip codes - we’ll be called racists...
I am in a crazy situation due to the cash for clunkers program. i bought a new honda fit on wednesday before the official date of Friday 23rd for kickoff. the law clearly states that a dealer that wrtes a contract before the final rule was issued must assume the full responsiblility for getting the rebate from the government. i signed the contract and turned over my clunker that meets all requirements and wrote them a check for the balance. my check has cleared and they now want me to sign some papers accepting full responsibility for them getting paid by the government or else they want the new car back. i told them to take a hike and they are threatening to snatch the new car. At this point, the new car is locked in my garage and i have told them that i will give them a very short timeframe to deliver my title and then i will file a fraud claim against them under the provisions of the CARS act and start filing whatever other claims i can file for free prior to lawyering up.
If the car dealer you went to sold more than their "12" they either won't get reimbursed ( and will go broke) or congress will have to dramatically up the amount of money for this poorly though out idea.
Coming up next: health care - oversold - under-financed. Hospitals going under will be worse than dealerships going under. Wait for the big surprise...
this is good actually especially since this news broke yesterday/today and will drive bam’s poll numbers even lower, ya’ think?
That’s a good question. I went online last night to see if my Wife’s 95 Windstar qualified for the program. I was given a big “Congradulations!” and was given a list of new vehicles I could choose from. The only problem is that my wife is disabled and we need another minivan for her scooter to go into.
I stuck that into the search engine and came up with 11 possibilities, 10 Fords (Their new 2010 design that looks like a bread truck!) and 1 Mazda 5 series. The Mazda was the most expensive with a sticker of $19K AFTER the $4500.00 rebate, with the cheapest Ford comming in at $16K.
Told my Wife that and she wasn’t too impressed by it. Neither am I....I guess the Disabled who need scooters or other means to get around are S.O.O.L. when it comes to a new car..and this looks indicative of the US Gov Health Care system they want to stick up our Bazoos....
936,400 votes as of 10:00 am, 7.31.09
Q. The president's progress with the battered economy has been both praised and criticized. How well are his efforts measuring up with you?
Extremely well. We are undoubtedly moving in the right direction. 14%
Fairly well. There's still a long way to go. 9%
Not well at all. His plans are hurting more than helping. 76%
Not sure/No opinion. 2%
I agree and will tke it one step further. There are many out here lke us who can’t afford a new car and always buy used. The cars they are destroying are not that old and are most likely more energey efficient than older cars are. So in one action they have hurt the poor and the enviroment with this program.
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”.