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mr O clunker deal

Discussion in 'Politics, Elections & Legislation' started by ricks1, Sep 11, 2009.

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  1. ricks1

    ricks1 TS Member

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    The cash for clunker program. It was to save gas is that not correct? Well if you do some math. He spent 3 billion to save 350 million in gas I must have missed something
     
  2. stokinpls

    stokinpls Well-Known Member

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    Little more detail, since the MSM doesn't want to talk about it.

    "Clunkers....

    I guess I must be on the wrong page…

    · A vehicle at 15 mpg and 12,000 miles per year uses 800 gallons a year of gasoline.

    · A vehicle at 25 mpg and 12,000 miles per year uses 480 gallons a year.

    · So, the average clunker transaction will reduce US gasoline consumption by 320 gallons per year.

    · They claim 700,000 vehicles – so that’s 224 million gallons / year.

    · That equates to a bit over 5 million barrels of oil.

    · 5 million barrels of oil is about ¼ of one day’s US consumption.

    · And, 5 million barrels of oil costs about $350 million dollars at $75/bbl.

    · So, we all contributed to spending $3 billion to save $350 million. How good a deal was that??? "

    In reality, it's probably not this good. In addition, within 10 years all of those "clunkers" would like have been eliminated from the environment by attrition at no cost to the taxpayer.

    Oh well, it's only (our) money.
     
  3. H82MIS

    H82MIS TS Member

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    What did you expect from a lop eared lying communist???????????
     
  4. School Teacher

    School Teacher Well-Known Member

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    Many states and cities benefited from increased sales tax revenue. It also probably helped some dealers clear some inventory. Salesmen earned commissions and the automobile companies, especially Ford, may add some production.

    However, unless automobile sales stay at an elevated rate, the net effect will have been to cause some buyers to buy automobiles a little sooner than they otherwise might have done.

    Ed Ward
     
  5. Tugboat

    Tugboat Member

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    And is it true folks that took advantage of the "cash for clunkers" will be getting 1099's for the amounts of monies received?
     
  6. DecalDude

    DecalDude Active Member

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    Big problem with the whole deal in my area is unemployment and people who drive clunkers here are true clunkers couldnt afford a new car if they wanted 1.
    I myself drivea 95GMC 4x4 that gets 12mpg and its in real nice shape,and I use it to haul trailers and what not, but wow the so called clunkers being traded in around here were better then most and by people who dont need to worry about saving on gas.
    I guess they might have rethought this clunker deal and got the ones that we see rusted out and puffin smoke off the road and gave them the deals at least on the used cars in much better condition.
    Just shows in my opinion it wasnt well thought out deal could have gotten a lot more true clunkers off the roads and helped save common people a bit by getting them into a more economical car used or truck.
     
  7. halfmile

    halfmile Well-Known Member

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    The true beneficiary was the banks. Yes, our friends the Shylocks.

    I don't think many of the vehicles were bought with cash, rather they were sold on nice auto loans.

    Another payoff.

    HM
     
  8. timberfaller

    timberfaller Well-Known Member

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    The government can't get anything right, thats why the founders wanted them (gov.) as far away from the free market as possible!! It was the responsiblity of the voters to keep them away from it!!

    Vote ALL the bums out! We've failed in that area sorry to say!

    All the clunker program did was raise the used car market prices and reduced new inventory. The Dealers I've been to the last couple of weeks told me they did not plan to replace inventory until the ecomomy improved and that was before the clunker program started.

    Yes the program sold some new cars but the dealers aren't banking on getting in replacements until they see improvements in the bottom line!

    Toyota and Honda out sold the US models, Chev, Ford, Chysler!
     
  9. Leo

    Leo Well-Known Member

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    Too easy of credit is part of what got us in the mess to start with. Easy credit encourages artifically high sales driven by lust and emotion, not actual need. IF people were paying cash for cars, there would be no impulse buyers. Each purchase would be carefully planned and a good decision made. You would also not have nearly as high of peeks or low of valleys in the business cycle. In the long run, you would sell about as many cars, as people keep needing to drive places. The obama solution was to make the productive members of society absorb the losses when the foolish start to fail on these car loans. A lot of the mortgage bubble was also government intervention to get people loans they cannot afford. Both of these policies buy votes, but both had to be paid for by the people who are productive. ie: responsible and mature enough not to be manipulated into foolish debt. I made my last car payment in '92 and my last house payment in '95. I deposit the equivilent of a car payment and a mortgage payment in the bank every month. (of course with the banks failing, I would be better off burying jars of cash in the yard)

    "Cash for clunkers" will bite us very soon. Many of the people who could not buy a new car without the program, now are having trouble making monthly payments on their car insurance. Maybe obamy will have me subsidize that expense also......
     
  10. 870

    870 Well-Known Member

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    Tugboat:

    I believe that is not true.
     
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