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Old 02-17-2010, 11:54 AM
 
Location: Oregon
1,457 posts, read 5,766,484 times
Reputation: 1419

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With the administration's recent cheerleading for their confidence in their handiwork, Cash for Clunkers came to mind in another thread as one of the better known examples that offers a glimpse into the liberal progressive mindset.

Nobody can claim its a success, because the program was artificial. How many dealers could have weathered the storm? It's unknown, because it was interfered with.

Anyhow, here's one article explaining how CFC could have cost up to $45,000 each.

Cash for Clunkers May Cost Up to $45,354 Per Vehicle -- Seeking Alpha

What do you think? Somewhere in between?

Was it $25,000 or $45,000?

Either way, I think even the 25K was an absurd amount of money. (May as well not reply, World Citizen - LOL)

Last edited by mdvaden; 02-17-2010 at 12:02 PM..
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Old 02-17-2010, 11:57 AM
 
Location: Raleigh, NC
20,056 posts, read 17,521,879 times
Reputation: 3826
b-b-b-b-b-ut it helped the economy temporarily.
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Old 02-17-2010, 12:09 PM
 
31,381 posts, read 35,460,131 times
Reputation: 15004
Lucy, deres lot assuming going on!

"According to Edmunds, about 200,000 old low mileage cars would normally be traded in, every 3 months, in exchange for more efficient higher mileage cars, without this program."

These were normal times?
New-car sales fell in September as the predicted post-"cash for clunkers" slump dragged the U.S. market down to its lowest sales rate in seven months.

Without government cash on the table, worried consumers shunned dealership lots, buying just 745,997 cars and light trucks, a 23% slide from a year earlier, when 964,873 vehicles were sold.
New-car sales fall at Ford, Nissan as 'cash for clunkers' ends - Los Angeles Times

From the link:
I assume that, given all the raving, the government will eventually get around to assigning more money. It will take at least 2 or 3 months for the legislation to work its way through Congress. Meanwhile, if all buyers have qualified for the higher $4,500 rebate, the "cash for clunkers" program will mean a marginal increase in car sales of 22,000 this quarter. $1 billion divided by 22,000 means a net cost to the government of $45,354 per car.
That's some shaky math to say the least, based upon an some rather shaky assumptions to say the least.
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Old 02-17-2010, 02:31 PM
 
Location: Fredericktown,Ohio
7,168 posts, read 5,111,284 times
Reputation: 2921
You also have to include the interest since the program was done with borrowed money.What ticks me the most is the bill should have been for U S companies only but they couldn't do that because it would violate the trade agreements.Funny how Japan is having their own cash for clunkers for Japan built cars only.So it's OK for other countries to protect their market and practice isolationism but the U S better not do it.
Soon coming to a Home Depot near you is the cash for appliances program,where you might qualify for a 300 rebate on a energy efficient purchase.I am buying a freezer,which proves these programs are stupid because eventually I was buying a freezer because of need.
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