The
first year of the Obama presidency was 2009, and if you recall, it
didn’t take him long to start making costly mistakes. One of the early
ones was his “Cash for Clunkers” program.
If
you don’t remember the details – and yes, I’ve tried to forget them,
too – the program let everyone trade in their old cars for up to $4,500
in cash if they were willing to use that money to buy a more
fuel-efficient vehicle.
The
official name of the program was the Car Allowance Rebate System, and
the goals were to jump-start U.S. auto sales, stimulate a lousy economy
and clean up the environment by getting gas-guzzling vehicles off the
roads.
The
program was considered pretty much a failure from day one, but it’s
back in the news again because researchers at Texas A&M University
did a study measuring the economic impact of the program.
They determined that the program not only failed to help the auto industry, but it actually decreased industry revenue by $3 billion in less than one year. Also, the so-called “stimulus” cost us taxpayers almost the exact same amount – $3 billion. The program ran out of money one month after it started and two months before the government expected.
As
bad as the Cash for Clunkers program was, we can now look back on it as
one of the “success stories” of the Obama Administration. The loss of $6 billion is a drop in the bucket compared to the other financial fiascos that this administration has brought on us.
And
one positive thing you can say for this program – at least nobody used
the cars to spy on us, unfairly target conservatives or take away our
guns and drive away with them.
Obama’s
Cash for Clunkers program was one of the early signs that we were
dealing with an incompetent government. Think back – when was the first
time you knew things were going to get a lot worse once Obama was
elected?
$18,000,000,000+ Trillion in debt – does this make sense to any American,
or anyone with a brain…..How much got add since Obama took office? And
How much more will it grow until he leaves office? He is adverting 1+
Trillion a year, you do the math for our children’s children!
Thanks Frank
“When you’re in the jar, you can’t read the label”
“DON’T OUTSMART YOUR COMMON-SENCE”
.....Bob Burton
…….Americans
Help me help you HELP America! …..Now today!
….It’s our country, ours!
American’s - Vs. – American’t
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