The Cash-for-Clunkers program may have set some sort of record for the most federal money thrown away in the shortest amount of time. But, hey, there is good news:
The “Cash for Clunkers” program ended with nearly 700,000 car sales, the Department of Transportation announced Wednesday.
Rebate applications totaling $2.877 billion were submitted by the deadline, which is under the $3 billion allocated for the program, DOT said.
Never mind that they upped the money allocated from $1 billion to $3 billion in less than a month, they were under budget. And what does it say about how we've changed in the last six months that we greet a $3 billion derangement as barely worth worrying about? And if that's funny, this is freakin' hilarious:
Eight of the top 10 new cars purchased through the program came from Honda, Hyundai, Nissan and Toyota, which claimed the top spot with its Corolla. The Corolla, Honda Civic and Ford Focus are manufactured in the United States.
The only vehicles produced by U.S. automakers in the top 10 were the Ford Escape and Focus.
By contrast, all of the top 10 clunkers turned in were made by a Detroit company, with the four-wheel-drive Ford Explorer SUV, Ford F-150 pickup and the four-wheel-drive Jeep Grand Cherokee taking the top three spots.
Yes, Prezident Obama, you can has our health care!
Comments
Leo:
I just wonder how that "health care" plan will work out when all these people who bought up these "fuel-efficient" pregnant rollerskates go bumper to bumper with say...a SEMI on the highways across the area in all those fender-benders?
(I can hear the wailing already with those claims flodding in)
Then we'll probably do a "Cash for Cripples" plan...
;)
All it did was move money around. Again. People that would have bought a new car in six months or a year car because of need simply bought early because of the carrot. Now comes the inevitable new car slump. Again.
Without the $4500 kicker to buy new, used car values are skyrocketing on the wholesale side which obviously will carry over to the retail side thereby boning the used car buyer.
Whenever the government fricks with the natural cycle of retail by throwing money around (OUR money to begin with by the way), it has another reaction.
Who the hell is gonna run out now and buy a NEW car when all they have to do is wait for Uncle Sam to come up with another hair-brained incentive program. (think refridgerators in Califrickinfornia)
I sincerely hope some day the average American will finally grasp the concept "there is no free lunch". I will not hold my breath though.