Even the Speed channel show “Rides” with Stacey David had a blurb about what a stupid program the “Cash for Clunkers” program was. It detailed every single economic ill effect it created, and there were a bunch of them, from junkyards deprived of income to mechanics and auto parts stores deprived of income, to people who couldn’t buy affordable used cars because of it.
Bad math, but the program was still very flawed.
$3 billion one time cost for $350 million savings per year. How many years the savings will continue is unclear, however it will be more than one and could be as many as ten, which would be a $3.5 billion savings.
You do understand the purpose of the program was to payback the UAW for its support of Obama?
I’m just glad I drive an old Honda and they weren’t on the clunker list and therefore I have access to spare parts without artificially inflated (demand for parts)prices.
Maybe it wasn’t sound economically, but have you noticed the temperatures lately?
Kash-4-Klunkers ended Global Warming forever!