The Motley Fool Discussion Boards
Retirement Discussions / Retire Early Liberal Edition
|Subject: cahs for clunkers - disaster of a program||Date: 1/5/2013 10:53 AM|
|Author: telegraph||Number: 47211 of 69565|
Whoops—'Cash for Clunkers' Actually Hurt the Environment
Back in 2009, President Obama’s “Cash for Clunkers” program was supposed to be a boon for the environment and the economy. During a limited time, consumers could trade in an old gas-guzzling used car for up to $4,500 cash back towards the purchase of a fuel-efficient new car. It seemed like a win for everyone: the environment, the gasping auto industry and cash-strapped consumers.
Though almost a million people poured into car dealerships eager to exchange their old jalopies for something shiny and new, recent reports indicate the entire program may have actually hurt the environment far more than it helped.
According to E Magazine, the “Clunkers” program, which is officially known as the Car Allowance Rebates System (CARS), produced tons of unnecessary waste while doing little to curb greenhouse gas emissions.
The program's first mistake seems to have been its focus on car shredding, instead of car recycling. With 690,000 vehicles traded in, that's a pretty big mistake.
Face it...it was simply porkulus for the UAW pension and health care funds..... lots of porkulus.....
and millions of Americans had to fork up thousands more for the same used cars to get to work, or do without, and thousands of used car dealers went out of business, and spare parts to keep cars on the road 'skyrocketed'.
A lose lose situation, unless of course, you traded in your $500 non working car and got a $5000 'stimulus' porkulus payoff to buy, most likely, a foreign built/maker car.......
Epic greenie fail!
|Copyright 1996-2015 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|