Obama to raise Chevy Volt subsidy to $10,000, increasing Natl Debt $10 billion (Congress, Barack Obama)

[Little-Acorn]

I guess he figures the National Debt isn't big enough.

You know, if a car is worth having, usually you don't have to pay people to take it.

Will this man EVER stop giving away money we don't have, just to buy votes in swing states?

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Chevy Volt | Electric Car | Barack Obama | The Daily Caller

Obama hikes subsidy to wealthy electric car buyers

by Neil Munro - The Daily Caller
Published: 2:10 PM 02/13/2012 | Updated: 4:44 PM 02/13/2012

The White House intends to boost government subsidies for wealthy buyers of the Chevy Volt and other new-technology vehicles — to $10,000 per buyer.

That mammoth subsidy would cost taxpayers $100 million each year if it is approved by Congress, presuming only 10,000 new-technology autos are sold each year.

But the administration wants to get 1 million new-tech autos on the road by 2015. The subsidy cost of that goal could reach $10 billion.

The planned giveaway will likely prompt populist protests from GOP legislators, but it will likely also will be welcomed by auto-industry workers in the critical swing state of Michigan.

That welcome is critical for President Barack Obama, who is touting his support for blue-collar manufacturing programs to help offset his low public approval ratings.

The new subsidy level represents a 33 percent jump from the current $7,500 government payout for each Volt buyer, even though the Volt’s buyers are already among the wealthiest Americans. It will be offered to buyers of any new-technology autos, including battery-powered autos and cars powered by natural gas, said a White House official.

The extra money for wealthy buyers will be borrowed funds, eventually paid off by future taxpayers in all income brackets.

[rbohm]

the chevy volt is an over priced hack of crap that government motors is trying foist on the country. the car buying public is seeing through the effort though and is refusing to buy them.

[burdell]

Since the cited article clearly states if it is approved by Congress; just how is this Obama's doing? Someone have reading comprehension difficulty?

[Little-Acorn]

Originally Posted by burdell

Since the cited article clearly states if it is approved by Congress; just how is this Obama's doing? Someone have reading comprehension difficulty?

Must be Bush's fault.

[burdell]

Originally Posted by Little-Acorn

Must be Bush's fault.

Thanks for confirming my suspicions about comprehension difficulties

[Miborn]

Funny because one of the Five on Fox drove one for a week and it did not hold a battery charge well at all. I think he said about 20 something miles is all.
How economical is that.
And with people plugging in to electric should e concerned as most is COAL driven and we know how obama feels about coal.

[AeroGuyDC]

Personal Finance 101. NEVER treat a car as an asset deserving your "investment." NEVER trust the government to tell you what to buy. NEVER trust a President's intent in an election year.

Your pocketbook will thank you.

[LS Jaun]

Originally Posted by Miborn

Funny because one of the Five on Fox drove one for a week and it did not hold a battery charge well at all. I think he said about 20 something miles is all.
How economical is that.
And with people plugging in to electric should e concerned as most is COAL driven and we know how obama feels about coal.

Fortunately the Volt has a back up engine so your never stranded like the "Electric only" Japanese made Leaf which we also subsidize. Why in the hell are we subsidizing Japanese jobs?

Nissan Leaf and Chevy Volt subsidies force Americans to root for failure | TL4A.com

[Nomander]

Originally Posted by LS Jaun

Fortunately the Volt has a back up engine so your never stranded like the "Electric only" Japanese made Leaf which we also subsidize. Why in the hell are we subsidizing Japanese jobs?

Nissan Leaf and Chevy Volt subsidies force Americans to root for failure | TL4A.com

Question is, why are we subsidizing a technology that isn't ready (or never ready) for market?

Answer: because business owners of such can make a killing using political powers.

[Nomander]

Originally Posted by AeroGuyDC

Personal Finance 101. NEVER treat a car as an asset deserving your "investment." NEVER trust the government to tell you what to buy. NEVER trust a President's intent in an election year.

Your pocketbook will thank you.

Exactly.

Treat buying a car as a cancer, a massive lost of investment.

Buy a USED car (at least a few years old or more), drive it into the ground and that is the best you can achieve with vehicles today to gain cost/benefit. If more people used such philosophy, cars would be a heck of a lot cheaper and last a hell of a lot longer.

I call a person who buys a brand new car either stupid... or loaded. Truth be told, most people are the former.