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"President Barack Obama has urged Congress to approve consumer incentives for new car purchases as part of the government's efforts to reorganize General Motors Corp. and Chrysler LLC through the bankruptcy courts.
The House proposal set for a floor vote Tuesday is aimed at stimulating car sales during a bleak period for the auto industry while increasing the nation's fleet of cars that get more miles to the gallon. GM and Chrysler have received billions of dollars in government aid, but the entire auto industry has watched car sales plummet during the past year. In May, overall sales were 34 percent lower than a year ago." RealClearPolitics - Politics - Jun 09, 2009 - Congress to consider 'cash for clunkers' plan
This is the first time I've heard of this. I'm interested in everyone's thoughts.
No way are they going to get my clunkers. I cherish clunkers because they deliver the most transport for the bucks spent.
Exactly- You can see the economic ineptness when this administration is encouraging people to take their money and buy the worst possible investment you can make- a new car.
So you spend $15,000 for a car, Get a loan, drive off the lot and the car is now worth $13,000. Yes these are the brilliant minds at work in Washington!
And the pitiful part is people listen to their hogwash.
Exactly- You can see the economic ineptness when this administration is encouraging people to take their money and buy the worst possible investment you can make- a new car.
So you spend $15,000 for a car, Get a loan, drive off the lot and the car is now worth $13,000. Yes these are the brilliant minds at work in Washington!
And the pitiful part is people listen to their hogwash.
There is value in a new car when you are the only one who has driven it. I do not buy used cars unless I KNOW the person who drove it before personally.
There is value in a new car when you are the only one who has driven it. I do not buy used cars unless I KNOW the person who drove it before personally.
I should not have specified- Any car purchase is the worst investment we can make- of course most of us need cars but do we need brand new cars?
Separately, House and Senate appropriators were discussing providing $1 billion to a supplemental war funding bill for the "cash for clunkers" program, which aims to generate about 1 million new auto sales.Since the yearlong vehicle program is expected to cost $4 billion, lawmakers would attempt to find the additional money later this year.
This paragraph really caught my attention. I'm tired of lawmakers attempting to find additional money. It usually means it's going to cost me.
those in charge want you to buy that 30k car.
they want us to pursue lifestyle of the rich and famous but work for min wage.
this too will soon pass.
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