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Author: telegraph Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 59767  
Subject: Re: cahs for clunkers - disaster of a program Date: 1/7/2013 1:00 PM
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Did cash for clunkers remove hundreds of thousands of clunkers off the road? NOpe!

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from Edmunds.com


Cash for Clunkers Results Finally In: Taxpayers Paid $24,000 per Vehicle Sold, Reports Edmunds.com

SANTA MONICA, Calif. — October 28, 2009 — Edmunds.com, the premier resource for online automotive information, has determined that Cash for Clunkers cost taxpayers $24,000 per vehicle sold.

Nearly 690,000 vehicles were sold during the Cash for Clunkers program, officially known as CARS, but Edmunds.com analysts calculated that only 125,000 of the sales were incremental. The rest of the sales would have happened anyway, regardless of the existence of the program.


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To conduct the analysis, the Edmunds.com team of PhDs and statisticians examined the sales trend for luxury vehicles and others not included in Cash for Clunkers, and applied the historic relationship of those vehicles to total SAAR to make informed estimates. These estimates were independently verified through careful examination of sales patterns reflected by transaction data. Once the numbers were determined, Edmunds.com's analysts divided three billion dollars by 125,000 vehicles to arrive at the average $24,000 per vehicle.

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Wow.......not only would most buyers not have traded in their cars......but in the end...it costs the taxpayers $24,000 for each car bought under the program.

In other words...massive massive porkulus!..........


I hope you look at your kids and tell them tonight - Obama borrowed trillions of dollars and will borrow trillions more in his next 4 years and you are going to have to pay interest on it forever - your taxes will be thousands if not tens of thousands higher to pay for the cash for clunkers and other 'progressive' programs that bought off the auto unions in the early 21st century.


t.
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