Post Clunker Thoughts..

[Slantwire]

Per Edmunds.com, Cash for Clunkers cost $24,000 per car.

Basically, they projected what car sales would have been without the program. (There's the one critical estimation / assumption in the math.)

Then they compared that to the actual car sales, concluding that about 125,000 (18%) of the sales were actually due to the program. Divide $3B by 125k, and the taxpayers shelled out $24k for each extra car sale and its economic stimulating effect.

Originally Posted by Pinhead

Per Edmunds.com, Cash for Clunkers cost $24,000 per car.

Basically, they projected what car sales would have been without the program. (There's the one critical estimation / assumption in the math.)

Then they compared that to the actual car sales, concluding that about 125,000 (18%) of the sales were actually due to the program. Divide $3B by 125k, and the taxpayers shelled out $24k for each extra car sale and its economic stimulating effect.

Like most economic tampering done by Congress, this legislation stole from the future for minor current benefits. Besides wasting money, this legislation caused car sales to collapse rather than permanently improve new car sales. And to think, some car company geniuses were predicting they would be recalling employess and permanantly upping production.

[MR2]

Whoops—'Cash for Clunkers' Actually Hurt the Environment

Back in 2009, President Obama’s “Cash for Clunkers” program was supposed to be a boon for the environment and the economy. During a limited time, consumers could trade in an old gas-guzzling used car for up to $4,500 cash back towards the purchase of a fuel-efficient new car. It seemed like a win for everyone: the environment, the gasping auto industry and cash-strapped consumers.

Though almost a million people poured into car dealerships eager to exchange their old jalopies for something shiny and new, recent reports indicate the entire program may have actually hurt the environment far more than it helped.

[Dusty]

Originally Posted by MR2

Whoops—'Cash for Clunkers' Actually Hurt the Environment

Back in 2009, President Obama’s “Cash for Clunkers” program was supposed to be a boon for the environment and the economy. During a limited time, consumers could trade in an old gas-guzzling used car for up to $4,500 cash back towards the purchase of a fuel-efficient new car. It seemed like a win for everyone: the environment, the gasping auto industry and cash-strapped consumers.

Though almost a million people poured into car dealerships eager to exchange their old jalopies for something shiny and new, recent reports indicate the entire program may have actually hurt the environment far more than it helped.

lol Add this to the list: Taxpayer money going to the MusBros warchest, obviously dismal job numbers jimmied up to look hopeful by the press, glaringly obvious fake tax cut-I bet this guy's approval numbers go below 40 by the time gas hits four bucks again this summer.

Thanks, morons everywhere, for tagging us with an incompetent, again.