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The Cash for Clunkers Scam By the Numbers

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  • The Cash for Clunkers Scam By the Numbers


  • #2
    Re: The Cash for Clunkers Scam By the Numbers

    Interesting point the article makes, stating that "roughly 860,000 cars would have been purchased without the stimulus package. The net gain was only 375,000 vehicles".

    So it seems that the taxpayers spent $2.88 Billion for a one-time increase of 375,000 cars.
    I feel sick (again) !

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    • #3
      Re: The Cash for Clunkers Scam By the Numbers

      Pass the Maalox? . . .

      375,000 is probably an optimistic projection on the number of new FWD wimpsters that were sold strictly because of C4C.

      For the most part, C4C merely cannibalized future sales at an initial cost to the taxpayer of ~$8,000 per car. Factor in the years of interest we'll be paying on about $1.5 Billion of the money blown on C4C and the cost to pull those sales forward skyrockets.

      I guess I need to hit the local JY and see if there's any non-engine stuff to harvest . . . .

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      • #4
        Re: The Cash for Clunkers Scam By the Numbers

        Well, we knew this was gonna come out eventually.
        In a year, most of the US will wake up and realize what a pantload C4C was.
        Act your age, not your shoe size. - Prince

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        • #5
          Re: The Cash for Clunkers Scam By the Numbers

          Originally posted by studemax
          In a year, most of the US will wake up and realize what a pantload C4C was.
          We can only hope they will, but my experience tells me that most of America doesn't know how to think

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          • #6
            Re: The Cash for Clunkers Scam By the Numbers

            The only group to really benefit from Cash for Clunkers is finance companies. They quickly got a lot more auto loans than they would have otherwise. King Barack I shows us who his true friends are.

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