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Old 08-24-2009, 03:07 PM
 
1,224 posts, read 1,287,676 times
Reputation: 417

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The Three Billion Dollar Boondoggle is about to end. Now just what did it accomplish? Not much.....

A few billion dollars worth of wealth was destroyed.

Low income families were damaged

Taxpayers were ripped off

The federal bureaucracy added another 1100 people

The environment wasn't helped

The auto industry got a "sugar high",..nothing more

Cash for Clunkers: Dumbest Program Ever?


Last edited by cdne; 08-24-2009 at 03:47 PM..
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Old 08-24-2009, 03:12 PM
 
4,465 posts, read 8,003,662 times
Reputation: 813
Quote:
Originally Posted by cdne View Post
The Three Billion Dollar Boondoggle is about to end. Now just what did it accomplish? Not much.....

A few billion dollars worth of wealth was destroyed.

Low income families were damaged

Taxpayers were ripped off

The federal bureaucracy added another 1100 people

The environment wasn't helped

The auto industry got a "sugar high",..nothing more

Cash for Clunkers: Dumbest Program Ever?

//www.city-data.com/forum/newth...ewthread&f=114
News for you kids:

They've extended it again- by popular demand, and because it works!
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Old 08-24-2009, 03:33 PM
 
4,465 posts, read 8,003,662 times
Reputation: 813
My source for above is David Schuster MSNBC who broke it as of 8/24/09, 4:00 CDT.

If I'm wrong, apologies in advance.
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Old 08-24-2009, 03:37 PM
 
Location: Pa
20,300 posts, read 22,231,983 times
Reputation: 6553
Quote:
Originally Posted by Geechie North View Post
News for you kids:

They've extended it again- by popular demand, and because it works!
Since when are programs extended based on if they work or not?
example. Corn Ethanol????? Another classic pork project that keeps getting extended.
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Old 08-24-2009, 03:50 PM
 
1,224 posts, read 1,287,676 times
Reputation: 417
Quote:
Originally Posted by Geechie North View Post
News for you kids:

They've extended it again- by popular demand, and because it works!

For "whom" does it work?
Taxpayers were ripped off $3 billion. The government took my money to give to people who will buy new cars that are much nicer than mine!
Very good point by the Cato author. Also, see the links in the article and then tell me it "works". Something FREE always "works".
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Old 08-24-2009, 03:52 PM
 
Location: Los Altos Hills, CA
36,660 posts, read 67,564,755 times
Reputation: 21249
Our occupation of Iraq is over???HOORAY!

Oh wait.
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Old 08-24-2009, 03:54 PM
 
Location: Near the water
8,237 posts, read 13,523,734 times
Reputation: 3899
The one thing that no one is discussing is the fact that none of these dealerships have gotten paid as they were supposed to at this point.

No one is discussing that the government isn't doing what they said they would do. There is something wrong with that.
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Old 08-24-2009, 03:57 PM
 
Location: Pa
20,300 posts, read 22,231,983 times
Reputation: 6553
Quote:
Originally Posted by Chromekitty View Post
The one thing that no one is discussing is the fact that none of these dealerships have gotten paid as they were supposed to at this point.

No one is discussing that the government isn't doing what they said they would do. There is something wrong with that.
I am sure some victims of Katrina can relate. Many are still waiting for the money due them. Nope Bush didn't keep it. That rests with the gov of La.
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Old 08-24-2009, 04:02 PM
 
Location: Raleigh, NC
9,059 posts, read 12,976,623 times
Reputation: 1401
What a boondoggle.

The environment was decimated by the literal disposal of cars, rather than salvaging them or leaving them on the road (a stark reminder of how Government Motors killed the Electric Car). People are further into debt than ever before, sometimes with 84 or 96 month loans. Car manufacturers are acting like morons by increasing production just so they can have more cars sit in lots now that this sugar high (excellent metaphor!) is over.
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Old 08-24-2009, 04:06 PM
 
4,145 posts, read 10,431,637 times
Reputation: 3339
Quote:
Originally Posted by Geechie North View Post
News for you kids:

They've extended it again- by popular demand, and because it works!
By "works", do you mean that it was supposed to be a program where people would trade in their clunkers, dealers would give them $4500 towards the purchase of a new car under the guise that they'd be fully refunded in 10 days from the government and the government would leave them hanging and either seriously delay payment, or not pay them at all?

If that was the original plan, then it was a smashing success.
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