View Full Version : Cash For Clunkers 'Success'--Part Infinity
09-10-2009, 11:49 AM
Transportation Secretary Ray LaHood says the government has approved $1.22 billion in reimbursements to car dealers for sales under the Cash for Clunkers program...The rebates led to more than 690,000 new car sales at a taxpayer cost of $2.88 billion. Auto dealers have said the Obama administration has been slow to pay them for the car incentives, which ended on Aug. 24.
1.22 billion divided by 2.88 billion = 42% of total funds allocated actually went to the dealers and car buyers.
That means that 58% of the allocated money--nearly 60%--went to overhead. In other words, the government took $1.36 for every dollar they distributed to those who 'needed' it. The charities I contribute to guarantee >90% going directly to the ground, with <10% going to overhead and admin.
And you want the government to efficiently run a nationwide health care plan that provides more and better coverage for those of us on the ground? If anything, the plan will result in more of us being IN the ground.
L.A. BRONCOS FAN
11-08-2009, 11:48 PM
GM posts 1st monthly sales gain in almost 2 years
Link (http://news.yahoo.com/s/ap/20091103/ap_on_bi_ge/us_auto_sales;_ylt=AlFSMXmEEpW6mKsgFT7q0M4Z.3QA;_y lu=X3oDMTJncms0aGc0BGFzc2V0A2FwLzIwMDkxMTAzL3VzX2F 1dG9fc2FsZXMEY3BvcwM1BHBvcwM1BHNlYwN5bl90b3Bfc3Rvc mllcwRzbGsDZ21wb3N0czFzdG1v)
GM reported its first monthly gain in U.S. sales in almost two years while Toyota and
Ford also improved, a sign the auto industry it starting to crawl back from a yearlong slump.
Ford returns to profit for first time in four years
Ford reported earnings of $1.1 billion for the third quarter and raised its forecasts, suggesting they would be ''solidly profitable'' in 2011 instead of merely breaking even as previously predicted.
The company lost more than $14.6 billion last year.
Obviously Obama's Clunker program had a lot, or everything, to do with their comeback,but we stopped the Clunker program because the Rethugs said "it was working too well."
11-09-2009, 09:06 AM
I guess it woulda been alright if taxpayers paid for what the clunker was really worth. That is--if you believe in wealth distribution. But, it's even worse considering that it cost taxpayers $28,000 per clunker.
edit: I mean redistribution
11-09-2009, 04:36 PM
Not only that, but most people who traded in a truck, bought a.....truck, so what was really gained by this "better for the environment when people got trucks with essentially the same miles per gallon? More government waste, but the blind continue to ignore it.
11-09-2009, 06:27 PM
All it's done is help people that would of bought new again, particuuliarly trucks which get beat on more. Ave increase was 2 mpg. Meanwhile, prices for used cars for the poor increased 16%.
11-09-2009, 06:35 PM
Also, it helped Hundai, Toyota and Honda civic sales the most.
They didn't even make it for the companies they bailded out!
Truck sale did increase, but only for marginal mpg gains.
11-10-2009, 10:19 AM
I think it hurt the people that had "paid for" cars by teasing them with a new car and a new payment that they probably won't be able to pay, so they lose the new car and the old clunker.