Cash for Clunkers Was a Total Failure

[bluegrass]

NEW YORK (CNNMoney.com) -- A total of 690,000 new vehicles were sold under the Cash for Clunkers program last summer, but only 125,000 of those were vehicles that would not have been sold anyway, according to an analysis released Wednesday by the automotive Web site Edmunds.com.

Still, auto sales contributed heavily to the economy's expansion in the third quarter, adding 1.7 percentage points to the nation's gross domestic product growth.

Is the economy really getting better?
The Cash for Clunkers program gave car buyers rebates of up to $4,500 if they traded in less fuel-efficient vehicles for new vehicles that met certain fuel economy requirements. A total of $3 billion was allotted for those rebates.

The average rebate was $4,000. But the overwhelming majority of sales would have taken place anyway at some time in the last half of 2009, according to Edmunds.com. That means the government ended up spending about $24,000 each for those 125,000 additional vehicle sales.

"It is unfortunate that Edmunds.com has had nothing but negative things to say about a wildly successful program that sold nearly 250,000 cars in its first four days alone," said Bill Adams, spokesman for the Department of Transportation. "There can be no doubt that CARS drummed up more business for car dealers at a time when they needed help the most."

In order to determine whether these sales would have happened anyway, Edmunds.com analysts looked at sales of luxury cars and other vehicles not included under the Clunkers program.

Using traditional relationships between sales volumes of those vehicles and the types of vehicles sold under Cash for Clunkers, Edmunds.com projected what sales would normally have been during the Cash for Clunkers period and in the weeks after.

Edmunds.com's estimate of the ultimate sales increase generally matches what industry experts had thought, said George Pipas, a sales analyst with Ford Motor Co (F, Fortune 500). But that misses the point, he said.

"The whole purpose of the program was to provide some kind of catalyst to kick-start the economy," he said, "and by all accounts the extra production that was added this year was a boost to the economy."

0:00 /4:57Why I fired GM's CEO
Ford was one of the biggest proponents of the Cash for Clunkers program and several Ford models were among the top sellers under the program.

While auto sales in September were hurt because auto dealership inventories were drained of products by the program, sales this month are already back on track or better, Pipas said. "I think the October sales results will show Clunkers is behind us and there's no more payback or inventories issues."

Emunds.com's projection indicates that, without Cash for Clunkers, October's sales increase would be even higher.





And NOW we're supposed to trust these morons to overhaul HEALTHCARE??? They cannot even get a small piece of our economy like AUTOMOBILES right...what makes anyone believe they can revamp 1/5th of our economy???



Tony

[Chief Long Hair]

Cash for Clunkers caused me to buy my new truck 2 years earlier than planned and I planned to buy a used truck then. I must have been one of those 125,000.

Not according to the salesman that sold me my new truck. I just talked to him yesterday while I was getting my oil changed at the dealership. Here it is almost the end of October and he said the last 3 months had been phenomenal. If I remember his words right he said "near record breaking" for him and he's been at it for 20+ years.

I do know one thing, this program saved 6 of my friends that were slated to be laid off till Cash For Clunkers came around. Not only that, most of them went from working 30 hours a week to 50!!! They work for 3 different auto suppliers who supply parts to the Big 3 and other auto factories. It also saved hundreds of other jobs at those same factories and that was just in one town in southeast Indiana. I bet they look at your source of information a little bit differently than you do.

It was one of the BIG reasons that Indiana's total unemployment dropped .3% from 9.9% to 9.6%. That drop could have been bigger than it was. Construction related jobs in Indiana that same month lost 3,300 jobs!!! If that weren't part of the figures in the drop in unemployment, it would have been .5% instead of .3%. The auto factories in Indiana actually recalled workers back to work and extended the number of hours for the ones who were still working due to Cash For Clunkers. That equates to more people working and working more hours which means more people spending money which means more items at stores being bought and more service being provided which means more jobs to replace those items sold and provide more services AND more people being hired to sell those items and provide more services which means..........................Could this mean recovery???? According to the economist yesterday, we’re already there!!! Add this program to the $8000.00 for first time home buyers......................Its called economics 101.

Are you one of those guys that I hear about that "you don't know a good thing when it hits you in the face" and "do you always believe every thing you read"? I've got real lives and real jobs staring me in the face through me friends and the above mentioned salesman. What do you have? Printed words on paper or on an internet site, some that are known to be bias against Obama? GIVE ME A BREAK!!!!!

Another point to be made here. Why is there only 6 to a maximum of 10 of your guys here that hate Obama and his "THUGS" while there are at least 3,939 others here on this board as well that either like what Obama is doing, don't care to argue with you, or maybe don’t like Obama but are OK with it? HHHHHHMMMMMMM!!!

Wake up, smell the coffee and get on the band wagon.....................or continue to look out of place and not in touch and left behind.

Have a nice day!!!!

Da Chief

[bluegrass]

Cash for Clunkers caused me to buy my new truck 2 years earlier than planned and I planned to buy a used truck then. I must have been one of those 125,000.

Not according to the salesman that sold me my new truck. I just talked to him yesterday while I was getting my oil changed at the dealership. Here it is almost the end of October and he said the last 3 months had been phenomenal. If I remember his words right he said "near record breaking" for him and he's been at it for 20+ years.

I do know one thing, this program saved 6 of my friends that were slated to be laid off till Cash For Clunkers came around. Not only that, most of them went from working 30 hours a week to 50!!! They work for 3 different auto suppliers who supply parts to the Big 3 and other auto factories. It also saved hundreds of other jobs at those same factories and that was just in one town in southeast Indiana. I bet they look at your source of information a little bit differently than you do.

It was one of the BIG reasons that Indiana's total unemployment dropped .3% from 9.9% to 9.6%. That drop could have been bigger than it was. Construction related jobs in Indiana that same month lost 3,300 jobs!!! If that weren't part of the figures in the drop in unemployment, it would have been .5% instead of .3%. The auto factories in Indiana actually recalled workers back to work and extended the number of hours for the ones who were still working due to Cash For Clunkers. That equates to more people working and working more hours which means more people spending money which means more items at stores being bought and more service being provided which means more jobs to replace those items sold and provide more services AND more people being hired to sell those items and provide more services which means..........................Could this mean recovery???? According to the economist yesterday, we’re already there!!! Add this program to the $8000.00 for first time home buyers......................Its called economics 101.

Are you one of those guys that I hear about that "you don't know a good thing when it hits you in the face" and "do you always believe every thing you read"? I've got real lives and real jobs staring me in the face through me friends and the above mentioned salesman. What do you have? Printed words on paper or on an internet site, some that are known to be bias against Obama? GIVE ME A BREAK!!!!!

Another point to be made here. Why is there only 6 to a maximum of 10 of your guys here that hate Obama and his "THUGS" while there are at least 3,939 others here on this board as well that either like what Obama is doing, don't care to argue with you, or maybe don’t like Obama but are OK with it? HHHHHHMMMMMMM!!!

Wake up, smell the coffee and get on the band wagon.....................or continue to look out of place and not in touch and left behind.

Have a nice day!!!!

Da Chief

Thats cute...you throw a couple of anecdotes out and show that as PROOF that what this research firm says is untrue...I suppose YOU are smarter than THEY are, along with their NATIONAL data....wow, the arrogance of you long hair...I guess they should have just gone to YOU and gotten the FACTS, would have saved them a lot of well thought out RESEARCH and DATA GATHERING....wake up and smell the coffee huh...no thanks. I won't drink the same kool-aid that the rest of you libtards drink. I will make my own decisions rather than jump on someones bandwagon and allow them to determine my course...but YOU have fun with the wagon long hair....hope you like where it takes you.



The auto factories in Indiana actually recalled workers back to work and extended the number of hours for the ones who were still working due to Cash For Clunkers. That equates to more people working and working more hours which means more people spending money which means more items at stores being bought and more service being provided which means more jobs to replace those items sold and provide more services AND more people being hired to sell those items and provide more services which means..........................Could this mean recovery???? According to the economist yesterday, we’re already there!!! Add this program to the $8000.00 for first time home buyers......................Its called economics 101.


Yep, this means recovery has happened, the recession is over and the "economists" you quote must have it right. Oh, wait...theres that little stat that came out this morning that consumer spending DROPPED in the month of September by .5%, which is the LARGEST drop in over three years?? You must have been busy when this tidbit was released huh long hair???

Economics 101 is in session, take notes long hair. You are wrong, have been wrong and will continue to be wrong as long as you refuse to think for yourself. Keep drinking on that wagon.


Tony

[bluegrass]

Cash for Clunkers caused me to buy my new truck 2 years earlier than planned and I planned to buy a used truck then. I must have been one of those 125,000.



So, you are a mooch as well huh long hair??? You probably think that money came from the Government dont you?? Thats right, GOVERNMENT paid you to buy a truck 2 years earlier than you "planned" to huh??? Sad thing is that YOU dont have a clue where that money came from...hey mooch, nice that I could help you buy a new truck with my tax dollars...not that I had a say in it, but YOU benefited from the Government taking MY money from ME and giving it to YOU, didnt you??



Tony

[Pine Mt Beagles]

ANYONE THAT SPEAKES AND READS THE ENGLISH LANGUAGE ,KNOW'S CASH FOR CLUNKERS WAS A HUGH SUCCESS,TRYING TO DIVERT ATTENTION FROM IT IS FUTILE,MORE.OF THE RIGHT WING NUT JOB LIES..........NO MORE TO SAY--------IT'S A FACT

[TC]

ANYONE THAT SPEAKES AND READS THE ENGLISH LANGUAGE ,KNOW'S CASH FOR CLUNKERS WAS A HUGH SUCCESS,TRYING TO DIVERT ATTENTION FROM IT IS FUTILE,MORE.OF THE RIGHT WING NUT JOB LIES..........NO MORE TO SAY--------IT'S A FACT

PROVE IT!!!!!

I Guess if all you READ is the PROPOGANDA PUT OUT BY The Present administration then you Will BELIEVE it...
Somebody SPIKED yer Koolaid huh Rufus!!!
Funny HOW AS SOON AS YOU PUT ON THE OBAMA BUTTON YOU CEASE TO BE AN INDIVIDUAL.
The ONLY Pin YOU See on my collar is the U.S. FLAG!!!!!

[Chief Long Hair]

Since you all believe everything you read..................

http://seekingalpha.com/article/170285- ... -breakdown

Oh by they way bluegrass, you're very naive to think I'm not aware that “OUR” tax dollars were used for this, YDA!!! That was just like an illegal low blow in a boxing match. Mix that with the “mooch” slam and I have to say “IS THAT ALL YOU GOT, YDA?????“ With that said, it's not YOUR tax "DOLLARS" that I “mooched“ from YOU, it was your tax "WAY LESS THAN A PENNY".

You do know others pay tax as well, RIGHT? (Oh, a low blow again. Well I guess one low blow deserves another I always say.) So lets take that $4500 "TAX" dollars I got and divide it by the number of tax payers who really paid tax which is about, oh lets use a safe number of 92.6 million tax returns out of a total of 136 million filed. That’s right, 43.4 million tax filers paid no tax at all and that doesn't even count the other 15 million that didn't even file at all. That makes it about 0.04859611231........ OF A CENT. I've lost way bigger money in my couch!!!!! I'm very sorry that I "mooched" that out of you and I'm sorry that it broke you financially. GALYDA!!!!! I see why your sooooooooooo pissed!!! By the way, that "BIG MONEY" that I ripped out of your pocket is actually smaller because many of those tax returns were also filed jointly and I didn't factor that in.

By the way, I got these numbers from a link provided below just for you all to see AND since you all believe in everything you read. Yeah, these numbers are for 2006 but you all know how slow the government acts. But they are the latest.

http://seekingalpha.com/article/170285- ... -breakdown

Might I suggest that maybe all 6 to 10 of you focus your attention on the information provided from this above link and fight to correct that problem? The fight you’re picking is doing nobody any good. It just creates more negativity and that’s the last thing we need now as Americans. Don’t worry, I won’t hold my breath.

Have a good day,

Da Chief

[Chief Long Hair]

Just !!!!!

I've been gone for a while and thought you all were getting stale and needed a good .

Have a nice day,

Da Chief

[Chief Long Hair]

Look what the same NEW YORK (CNNMoney.com) had to say here just 5 hours earlier than the top post here!!!!!. Since you all believe in what you read (especially from the same source on the SAME day just earlier)!!!!!

http://money.cnn.com/2009/10/29/news/ec ... 2009102912

WHAT, cash for clunkers really did help the economy?????

Here's what NEW YORK (CNNMoney.com) said just 5 hours later, (which this information was used for the top post above)

http://money.cnn.com/2009/10/28/autos/c ... /index.htm

So which is it?????

(just mow'in 'em down one at a time.)

Seems to me someone here is just showing us what THEY want us to see here.

Have a rrrreeeeaaaallllllllyyyy nice day!!!!!

Da Chief

and

[TC]

Nice Post Chief..
Now i do believe that the Cash For Clunkers did help to Stimulate the economy in Some areas. And SOME i say SOME of the things that this administration has done Will help in small ways BUT i say again BUT in the LONG run I see it Hurting us MORE..
Did you See my post on the new health care reform Bill that that maniac/lunatic pelosi is trying to get passed?????
Comments????
See i Do not Disagree that the health Care system needs to be regulated/ revamped to some extent i just Dont care for the way this administration try's to circumvent the system to Do it!!!!
But then Again Obama Will do What he Has to to get HIS agenda accross NO MATER WHAT IT TAKES and i feel that WE as a COUNTRY will SUFFER in the LONG RUN.....
(flingin some back atcha)

[Chief Long Hair]

Sorry TC, It takes me a while to read more than 1,990 pages on health care. I'll get back to you on that. By the way, I am OK with the public option deal because IT IS AN OPTION!!! It ain't forced down your throat.

Have a wonderful day,

Da Chief

[TC]

Sorry Got OFF Topic I moved My Reply to the Appropriate post!!!!!
As far as Cash For Clunkers Goes.....Glad I did not Participate,,,,,,, I Will just keep Drivin my Ol Clunker......At least i KNOW I Will get there in it Even another 30 years From Now When yours is Dead And spred out as Soup Cans. I Can Put that Money to better use elsewhere.........

[Chief Long Hair]

That's alright TC. My hat's off to you if you CAN get another 30 years out of your vehicle. By looking at that claim of 30 years, I'd say you must be driving a Chevy Silverado just like my new one. Hey, maybe we'll race them in 30 years!

I also need to thank you as well for letting me "mooch" 0.04859611231 of a cent out of your pocket as well. It was greatly appreciated.

Hey Bluegrass, I'm waiting for your response on why you only post what you want us to read. Too busy planning that drive by? Are you MIA due to a new, (straight) jacket you're wearing?

Have a great day,

Da Chief

[bluegrass]

I didnt see the first article you linked, but I have gone back and read it since you posted it...I have to ask you one question though....is your IQ somewhere in the Moron range??? Do you have ANY reading comprehension skill whatsoever or do you just post because the headline fits what you THINK or are TOLD to think??? The FIRST link you posted is CNN spewing its particular brand of Obambi worship while the SECOND one links a seperate source, other than CNN...however YOU convienently forgot that part didnt you??


You can go on "stirring the pot" like you THINK you are so good at...you are a mental midget as evidenced by your moronic posting from MOVEON.ORG which quoted and linked THE DAILY KOS...you have no credibility whatsoever. You are comfortable with a governmet which takes from some to give to others as long as YOU can get YOURS...you are a mooch, I dont give a dam.n how much it is, you suck from the government tit just because you CAN...mooch, leech, drain, call it whatever you want to....


I didnt respond to your post in YOUR allotted timeframe because I have a life and was out living it...but thanks for your concern mooch...I dont want it or need it.


Tony

[TC]

That's alright TC. My hat's off to you if you CAN get another 30 years out of your vehicle. By looking at that claim of 30 years, I'd say you must be driving a Chevy Silverado just like my new one. Hey, maybe we'll race them in 30 years!

Da Chief

Sorry to Disappoint Chief but it is a 1978 FORD F150 1/2 ton 4x4....let me know When you need that Tow.........