View Full Version : Only $24K per car, what a deal?
10-29-2009, 12:03 PM
The U.S. government is calling its Cash for Clunkers program a big success, with nearly 690,000 vehicles sold in July and August. But a report by automotive Web site Edmunds.com says the program actually cost taxpayers $24,000 per car sold.
Only 125,000, or 18%, of the sales were incremental, according to Edmunds.com -- the remaining 82% of sales would have happened regardless of the program.
The $24,000 is the price for the sales of vehicles that were a direct result of the program, Edmunds.com said.
10-29-2009, 02:35 PM
Yes, but look at how many new jobs have resulted from Obama's stimulus!
I don't think anyone in Washington can actually count!!!!!
It's like their budget cuts. If a bill comes out adding 100 million to some program, and by the time it passes, it only adds 50 million, they call that cutting the budget! Just ignore the fact that spending actually increases!
10-30-2009, 04:23 AM
not to mention "we have saved or created 'X' amount of jobs" as the <u>new</u> weekly unemployment numbers still remain high.
10-30-2009, 10:00 AM
Deeman I read that only 240 Chevyies are allowed to be imported into Japan. That sounds fair doesn't.####
10-30-2009, 10:06 AM
Yes, it has never been fair in other countries as far as both import quotas and pricing levels.
Of course, Japan and China are not stupid enough to allow other countries to buy thier banks, automotive companies and even their congresses.
Turns out the cars sold for the clunker debacle would have been sold later in the year. They just created a false bubble. The Dow is showing its worry.
And you are surprised that the gubmint doesn't understand markets?
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