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Keyword: cashforclunkers

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  • The Obama administration accidentally accelerated the Corolla conquest of American roads

    09/05/2017 7:30:26 PM PDT · by 2ndDivisionVet · 26 replies
    Quartz ^ | August 2, 2017 | Gwynn Guilford
    When was it, exactly, that petite Toyotas and stubby Hondas came to rule the American road? One milestone in the compact-car takeover dates back to the summer of 2009. Times were, as you’ll recall, pretty dark. The US economy was bleeding jobs. Trillions of dollars in wealth in stocks and home equity had been vaporized. People were clinging to what cash they had—and definitely not spending on cars. With sales nosediving, several flagship US auto companies were on the brink of ruin. And then came the great Keynesian experiment known best as “cash for clunkers.” Under the bipartisan program, the...
  • The New York Times and the rehabilitation of Steven Rattner

    10/06/2015 9:04:49 AM PDT · by george76 · 9 replies
    Columbia Journalism Review ^ | FEBRUARY 20, 2013 | Ryan Chittum
    The New York Times is declaring that disgraced private equity mogul Steven Rattner has gotten his reputation back in the Manhattan lunch circles that matter. This was probably only a matter of time given that it was the Times itself that played a leading role in his rehabilitation. It’s Andrew Ross Sorkin, naturally, who pronounces the cleansing complete, even wondering aloud if Rattner could be a Treasury secretary someday. This about a guy who just two years ago paid $16 million to settle SEC and New York lawsuits against him for taking part in a kickback scheme with public officials...
  • NYT Has Hillary Fundraiser, Fined CEO Steven Rattner Writing About Fiorina

    10/06/2015 9:19:09 AM PDT · by george76 · 2 replies
    Newsmax ^ | 27 Sep 2015 | Greg Richter
    Steven Rattner, a fundraiser for Democrat Hillary Clinton and someone who was fined by the SEC, has a column criticizing Republican presidential candidate Carly Fiorina in The New York Times titled "Carly Fiorina Really Was That Bad." ... "Not mentioned by the Times is the fact Rattner was once President Obama‘s 'Car Czar' back during the Cash-for-Clunkers days. He’s also a major fundraiser for (drumroll…) Hillary Clinton." Rattner also paid $10 million in fines to the Securities and Exchange Commission in 2010 for alleged involvement in a New York State pension fund scandal. ... What’s next, Grey Lady? Can we...
  • Obama’s Economy In Action! Data Shows Cash For Clunkers Was An Epic Debacle

    08/10/2014 2:43:53 AM PDT · by afraidfortherepublic · 36 replies
    The Daily Caller ^ | 8-10-14 | Eric Owens
    “Cash for Clunkers,” the 2009 Obama administration stimulus program designed to spend $2.85 billion to jumpstart the auto industry, turned out to be a complete disaster — for the auto industry. In the minds of Obama’s team of advisers and economists, the program made total sense, of course. The plan was to dangle a $4,500 credit to persuade car owners to trade in their older automobiles for new cars with better fuel efficiency. It would stimulate an economy then in the midst of a deep recession. As a bonus, it would mean less oil consumption and cleaner-running cars. The law...
  • Oops! Obama’s Cash for Clunkers program ‘actually lowered total new vehicle spending’

    08/07/2014 10:06:33 PM PDT · by 2ndDivisionVet · 12 replies
    The American Enterprise Institute ^ | August 4, 2014 | James Pethokoukis
    Back in 2008, economist Alan Blinder called the idea of a “cash for clunkers” federal rebate plan “the best stimulus idea you’ve never heard of.” But more and more analysis of the program suggests “cash for clunkers” will be a stimulus idea we’ll never hear of again. “Cash for Corollas: When Stimulus Reduces Spending by Mark Hoekstra, Steven Puller, and Jeremy West finds the programs merely pulled forward car sales from the subsequent seven to nine months and thus “had no impact on the number of vehicles sold.” This counters the Obama White House claim that “a substantial proportion of...
  • Almost anything would have been better stimulus than ‘Cash for Clunkers’

    11/03/2013 8:29:00 PM PST · by Olog-hai · 29 replies
    Washington Post ^ | October 31, 2013 11:09 am | Brad Plumer
    When the Obama administration first proposed its “cash for clunkers” plan in 2009, the reaction was generally favorable. Congress would spend $2.85 billion to encourage drivers to swap their old gas guzzlers for newer, more fuel-efficient cars. … But, as it turns out, the critics were on to something. A new analysis from the Brookings Institution’s Ted Gayer and Emily Parker found that the program was fairly inefficient as economic stimulus and mostly pulled forward auto sales that would have happened anyway. It also cut greenhouse-gas emissions a bit—the equivalent of taking up to 5 million cars off the road...
  • Why used cars are scarce - and expensive

    02/22/2013 8:04:48 AM PST · by SeekAndFind · 35 replies
    American Thinker ^ | 02/22/2013 | David Paulin
    Yes, Obama's Cash for Clunkers program is definitely one reason used cars are in increasingly scarce supply-- and much pricier than they used to be. But another reason relates to something liberals despise: "trickle down" economics or, in respect to the increasing scarcity of used cars, the fact that low-income used car buyers do better when wealthier Americans (those who can afford new cars) do better. The reason used cars have gotten increasingly scarce and expensive is the subject of a Wall Street Journal article, "Amid New Car Boom, Used Cars Are Gold." Its observations are illuminating: The shortage of...
  • Limbaugh: Cost Of Irene "Pales In Comparison" To Hurricane Obama (Video)

    08/29/2011 11:13:08 AM PDT · by Evil Slayer · 8 replies
    "Well, I want to tell you something: Hurricane Obama -- this irene. Whatever this Irene is going to cost us, it pales in comparison that has been the Hurricane that is the Obama administration. "The Obama administration, the Hurricane has cost us far more. And Byron York, while I was gone, great story, fabulous story on the source of all this deficit spending under Obama. The $4 trillion that they're spending. Everybody's focused on entitlements and he correctly points out it's not entitlements that have busted the budget here. Entitlements are known, the spending in entitlements. "What's been added to...
  • China plans 'cash for clunkers' program (Obama's influence goes across the Pacific)

    06/08/2011 6:57:10 AM PDT · by SeekAndFind · 14 replies
    SHANGHAI — China has announced a plan to pay up to nearly $2,800 for old vehicles headed to the scrap heap, in a move aimed at perking up slumping sales in the world's largest auto market. Vehicle owners can get subsidies of between 11,000 yuan-18,000 yuan ($1,700-$2,800) for old farm vehicles, city buses and heavy trucks, said a notice issued today by the finance and commerce ministries. The plan coincides with reports that China's vehicle sales fell by 14 percent in May from the month before after years of mostly double-digit growth. China's auto market surged to become the world's...
  • Is There A Shortage Of Used Cars?

    05/19/2011 9:34:41 AM PDT · by Iron Munro · 97 replies
    WHEC-TV Rochester, NY ^ | May 18, 2011 | Ray Levato
    If you've tried to buy a used car recently -- a lot of people are finding it hard to get what they want. There is something of a used car shortage going on. News 10NBC found out there are a number of factors why there are fewer used cars out there. One is -- more people are holding onto their new cars longer but also, there are fewer rental cars coming on the market and fewer people are leasing vehicles so therefore -- fewer of those cars are out there. Joan Kamisch is trading her 2000 Chevy Lumina for a...
  • Tell everyone -- this government has made transportation for the poor nearly impossible

    04/16/2011 9:37:32 PM PDT · by MeneMeneTekelUpharsin · 30 replies
    Common Sense Journal | 16 April 2011 | Mene Mene Tekel Upharsin
    Tell everyone you know! This government with its "Cash-For-Clunkers" program has deliberately ruined automobile transportation for the poor. Lower middle class and poor individuals nationwide simply can not find reasonably-priced cars to buy in which to transport themselves to perform necessary functions of life, ie: work, school, groceries, healthcare visits, etc. because the cars they can afford are gone. The price of gasoline has skyrocketed and all smaller cars with reasonable gasoline mileage have gone up so high in price the poor can NOT afford to buy them. Some folks are already beginning to ride bicycles to work (really). What...
  • The guy who first thought of “cash for clunkers” tells you it’s wasteful (Idea came from France)

    01/07/2011 3:03:44 PM PST · by 2ndDivisionVet · 3 replies
    Hot Air ^ | January 7, 2011 | Fausta Wertz
    Victor Dial writes in today’s WSJ, Ou Est Le ‘Cash for Clunkers’? Not surprisingly, the idea of subsidizing new cars came from France. You probably wonder who’s Victor, and what does he have to do with cash-for-clunkers? Most Americans wouldn’t know it, but the Cash for Clunkers model originated in Europe in the mid-1980s. I was in charge of sales and marketing for Peugeot at the time, and the government-incentive idea was co-developed by my company, Renault and the French government. Merci beaucoup for that beaut, Vic! Now, here’s what happened: the automakers wanted a handout, and the labor unions...
  • Bang! Pow! '60s-Style Batmobile Replicas for Sale

    09/30/2010 5:32:26 AM PDT · by Cowman · 22 replies
    Yahoo ^ | September 28, 2010 | Claudine Zap
    Bang! Pow! '60s-Style Batmobile Replicas for Sale by Claudine Zap • September 28, 2010 DC Comics has officially licensed Fiberglass Freaks to re-create, down to the flame throwers (working, natch), the futuristic car that the Caped Crusader drove in the 1960s TV series. For $150,000, you too could keep Gotham City safe. Or at least look really, really cool while sitting in traffic. Each car frame is built around a 1970s Lincoln Town Car. And only eight of these hand-crafted beauties roll off the factory floor each year. Company founder Mark Racop has been perfecting the design pretty much his...
  • Obama is selling clunkers to America

    09/24/2010 9:25:29 AM PDT · by Big Bureaucracy · 8 replies
    Big Bureaucracy ^ | September 24th, 2010 | Ellie Velinska
    After wasting $3 billion with the Cash for Clunkers program President Obama and his administration decided to take cash from the American people by selling them the government’s old cars. GovSales.gov has been holding auctions where the public can buy the federal clunkers. As of today 249 trucks and semi tractors are available for auctioning, 248 cars and SUVs. You can bid for the Obama clunker on the picture here. Here are more examples of the federal government clunkers for sale: 1969 AM General M540, 1973 AM General M35A2C, 1985 Chevrolet CD30903, 1968 Ford F600. Maybe the President made...
  • Stimulus for Clunkers (The Data's Now In--Cash for Clunkers Was a Major Lemon)

    09/20/2010 9:06:17 AM PDT · by MissesBush · 7 replies
    <p>By now, the only defense Democrats can mount of the Obama stimulus programs is that the economy would have been worse without them. There's no way to disprove this counterfactual, but now we have some empirical evidence other than 9.6% unemployment and 1.6% growth.</p>
  • Finding good, used cars more difficult these days

    09/11/2010 7:30:20 AM PDT · by Inappropriate Laughter · 74 replies
    Bangor Daily News ^ | 9/10/10 | 9/10/10
    One of my sons had a car accident recently. The car was totaled but fortunately no one was injured. There was only basic insurance coverage, so we started the new (used) car search. Being male and somewhat into cars, this was a challenge that I savored. The eternal hunt for a good car deal is something that is fun in some ways. It is an opportunity to cast lots against the system, trying to find proper transportation by being a hunter-gatherer of the 21st century. Now, I am first to admit to being a bottom feeder when it comes to...
  • Auto sales: Worst August since 1983

    NEW YORK (CNNMoney.com) -- The nation's top automakers reported disappointing sales Wednesday, resulting in the worst August for industrywide auto sales in 27 years. According to sales tracker Autodata, U.S. new vehicle sales fell just short of 1 million vehicles, a drop of 21% from a year ago, which included Cash for Clunkers. That federal program created a sugar rush of sales by dangling an incentive of up to $4,500 in cash for buyers who traded in older gas guzzlers for more efficient models.
  • Predictable: Obama's Cash For Clunkers...Hurting The Poor

    08/25/2010 6:35:14 PM PDT · by Neoavatara · 45 replies
    Neoavatara ^ | August 5, 2010 | Neoavatara
    Everyone with a brain knew what would happen. Unfortunately, those controlling Washington, D.C. these days are of questionable intelligence. What am I talking about? Obama's 'brilliant' Cash-for-Clunkers program.
  • Drivers regret Cash for Clunkers leases

    08/03/2010 11:10:44 PM PDT · by South40 · 55 replies · 172+ views
    Orange County Register ^ | 8/3/2010 | Mary Ann Milbourn
    Thousands of people who leased cars last year as part of the Cash for Clunkers program are having second thoughts and are trying to get out of their leases, reports LeaseTrader.com. The program provided up to a $4,500 rebate if a person signed at least a five-year lease for their car. A year later, that money has long been spent and people realize they are stuck with the car for four more years, says John Sternal, LeaseTrader.com spokesman. "I think it's Cash for Clunkers remorse," Sternal says, whose company helps hook up people who want to trade out of their...
  • 9 months after the most economically atrocious piece of legislation in 2009 (Cash for Clunkers)

    03/22/2010 8:37:57 AM PDT · by SeekAndFind · 12 replies · 847+ views
    News N' Economics ^ | 03/22/2010 | Rebecca Wilder
    Okay, I've seen a lot of whoppers in my time, but the Cash for Clunkers legislation (CFF, colloquial for Car Allowance Rebate System) takes the cake. And today's CPI report reiterates the net welfare-reducing impacts of CFF on the economy. I present my case in three parts, but skip on down to point three if you want to see the gist of it. First, the cars that should have been scrapped were unlikely scrapped; better put: the bottom of the distribution of environmentally sound vehicles are still on the road. Why? The trade-in value for any given vehicle that qualifies...