According to Edmunds.com, 690,000 Americans took advantage of the Cash for Clunkers Program. Under this Obama brainfart, it cost the taxpayers $24,000 for EACH one of those cars. Remember the head-slap "I coulda had a V-8? Well you, too, could have had at least a V-6 -- along with all the other folks who got their new cars if you'd been given your OWN money to spend!
So, my point here is that SOMEONE took some of your wealth and gave it to someone else! AHHH--- that would be Obama's promise to Joe the Plumber when he said he thought that spreading the wealth around would be good for everyone. Well, was it good for you? Seriously, who got that $24,000? It wasn't the car dealers. Some of them are still awaiting their money from the government to cover the rebates given to those who purchased the cars... So, WHO got that money?
We're all, by now, familiar with the fact that the reported "jobs saved or created" numbers that have been posted on the recovery.com site are absolutely false. I'd like someone to PROVE that any job was actually saved due to the economic strategies of the Obama Administration. They like to use the nice round number of one million jobs, even though it's much, much less than that. But we'll go with data the Obama administration has posted, just for the sake of this argument.
The Administration says that they've created and/or saved one million jobs and they spent $160 billion doing it. That means that government had spent paid $160,000 on each job. Hmmm. Will someone please introduce me to the person who got a job created by the stimulus with a starting salary of $160,000? The Obama Administation likes to say that some of the jobs saved are "the waitress who's still on the job," -- as Joe Biden himself used this example. (I'd like to meet the waitress who makes that kind of money!)
In fact, Jared Bernstein, chief economist and senior economic advisor to Vice President Joe Biden says that the cost per job was more like $92,000. So, even if the "shovelers" on the shovel-ready jobs, and the waitresses, and teachers, or whoever, got $92,000 on average, and didn't actually get their fair share of that $160,000 average - WHO did?
Are you beginning to get the picture? The Obama Administration has borrowed billions upon billions of dollars in only 11 months in office. And only a small portion of that money has trickled down to the people who are hurting and need to work. Millions, if not billions have been documented as wasted - mostly in million-dollar chunks that include rebates to the long-dead, rebates to prisoners, yada, yada.....
I CAN tell you where jobs were actually created. There are 30-some-odd czars and they have sizeable staffs. There are innumerable advisors and expanded staff roaming the White House halls on any given day. All the czars make at least high six-figure incomes. Their operating budgets/expenses have not been made public. But just their combined salaries run in the millions of dollars. Government is the sector where the greatest amount of job creation has taken place.
Where is the rest of it going, though? Is it going to some middleman? To some corporation (cash for clunkers) perhaps? To local governments (shovel-ready projects) perhaps? To banks (bailouts) perhaps? To financial insurers (AIG) perhaps?
Out of the "Dollars" Obama is getting from China, he's sending "pennies" down to the the people. And the wealth of our nation is being re-distributed to the wealthy GROUPS . The "have nots" NEVER have gotten theirs... just look at all cultures and civilizations throughout history. So, if you're looking for your share of Obama money! Don't hold your breath!
Showing posts with label Cash for Clunkers. Show all posts
Showing posts with label Cash for Clunkers. Show all posts
Saturday, November 21, 2009
Friday, August 21, 2009
Cash for Clunkers Backlash
In my opinion, the Cash for Clunkers program wasn't a thought-through plan. Not just a "well thought through plan" but a "thought-through" plan. That's evident by the fact that the allotted $1 billion was depleted within four days. It wasn't thought through - again - when the additional $2 billion was added to the program and then had to be ended early because the funds once again ran out. And this was a good program?
In my opinion, I don't believe it was a good plan to get people to participate in "debt spending" to help the economy. And I don't believe that people really took advantage of this program because they wanted more fuel-efficient cars. I really think the draw was that people could some "something for nothing" from the government - if you can call taking some else's tax dollars and putting them in your pocket "something for nothing" - it's tax money, yours and mine, paying for this so it sounds like a form of theft to me. In some cases, they bought their cars 6 months earlier than they usually would for that rebate - good for them, I suppose. And in many cases, people who had no car payment, now have one. So how was this a good idea?
I don't have anything against anyone spending money they have or they can afford, but during this type of economy, is it really wise for any of us to take on more debt? Before long, they'll see their taxes raised, their paychecks getting cut back or completely removed as more companies shorten the work week and more people lose their jobs. So, why was this program such a good idea?
I watched a car dealer tell a reporter that she had sold 1290+ cars under this program to the tune of $5.5 million dollars in rebates. To date, she has been reimbursed for 8 cars. EIGHT! And that's just ONE dealership. Multiply that by the thousands and thousands of dealers across the country. Additionally she said that the trade-ins primarily were US-made automobiles and what they traded for were imports. Hmmm. That doesn't sound good for our US automakers, does it? Tell me again why this was such a good program?
Now, those who were in the market for a car either now or down the road a few months have purchased their cars all in a requisite short time frame. So, when the 2010 models from the US makers hit the lots, where will the buyers be? They'll be making payments on their "Cash for Clunker Cars" imported cars. Once again, tell me why this was such a good program?
When your taxes are increased to pay for this "successful" program, remember your tax dollars have just put new automobiles in your neighbor's driveways. Your tax dollars contributed to their indebtedness. Your tax dollars which could help people who have lost their jobs, had the money been put in unemployment benefits increases, were spent on imported cars which are now running up and down the roads burning fuel produced by unfriendly countries. Please, someone, tell me why was this such a good program?
In my opinion, I don't believe it was a good plan to get people to participate in "debt spending" to help the economy. And I don't believe that people really took advantage of this program because they wanted more fuel-efficient cars. I really think the draw was that people could some "something for nothing" from the government - if you can call taking some else's tax dollars and putting them in your pocket "something for nothing" - it's tax money, yours and mine, paying for this so it sounds like a form of theft to me. In some cases, they bought their cars 6 months earlier than they usually would for that rebate - good for them, I suppose. And in many cases, people who had no car payment, now have one. So how was this a good idea?
I don't have anything against anyone spending money they have or they can afford, but during this type of economy, is it really wise for any of us to take on more debt? Before long, they'll see their taxes raised, their paychecks getting cut back or completely removed as more companies shorten the work week and more people lose their jobs. So, why was this program such a good idea?
I watched a car dealer tell a reporter that she had sold 1290+ cars under this program to the tune of $5.5 million dollars in rebates. To date, she has been reimbursed for 8 cars. EIGHT! And that's just ONE dealership. Multiply that by the thousands and thousands of dealers across the country. Additionally she said that the trade-ins primarily were US-made automobiles and what they traded for were imports. Hmmm. That doesn't sound good for our US automakers, does it? Tell me again why this was such a good program?
Now, those who were in the market for a car either now or down the road a few months have purchased their cars all in a requisite short time frame. So, when the 2010 models from the US makers hit the lots, where will the buyers be? They'll be making payments on their "Cash for Clunker Cars" imported cars. Once again, tell me why this was such a good program?
When your taxes are increased to pay for this "successful" program, remember your tax dollars have just put new automobiles in your neighbor's driveways. Your tax dollars contributed to their indebtedness. Your tax dollars which could help people who have lost their jobs, had the money been put in unemployment benefits increases, were spent on imported cars which are now running up and down the roads burning fuel produced by unfriendly countries. Please, someone, tell me why was this such a good program?
Thursday, August 20, 2009
Cash for Clunkers - Are the Car Dealers Getting Clunked?
Hmmm. The Obama administration is claiming huge success with the Cash for Clunkers program. Well, it seemed a success, but the backwash is going to be extreme. Has this program been a cardboard cake form with thick sugary frosting on top? Apparently some dealerships are thinking so and are pulling out of the program. Why? Because they sold thousands of cars with a rebate of $3500 to $4500 per car from their lots but have received only 2% of $3 million dollar funding. So, can you blame them for pulling out now?
First, the government has placed a heavy shadow on these dealerships (the shadow of being closed down by the government, not based upon profitability but on ambiguity which some say is based upon political positions and favors).
Second, these dealerships have had a lot of their money tied up in loans for their business infrastructure as well as for their inventories for quite a while. Now, they're supporting the government's Cash for Clunkers Program by "loaning" the government these enormous amounts of money with no interest for an indefinite amount of time. (The agreement originally said there would be a maximum of 10-day wait for the reimbursement.)
So, it's easy to understand that these dealerships which had been allowed to continue their automotive business after the first White House "whack-down", signed up in the first place -- perhaps for fear of reprisal if they didn't. However, they're now paying interest on money that was passed on to these "clunker" customers and the White House isn't following through on their end of the deal. I'm sure they're wondering which situation is worse, going out of business because the Great and Mighty White House can arbitrarily shut them down, or having the banks foreclose on their business because they sold too many cars under the government's program for which they have not been reimbursed. I'm sure some of them dealers are finding it very difficult to make their mortgage and loan payments while they wait on the government to reimburse them. They're being screwed. How sad!
The White House says that the problem came about because the program was more successful than they'd anticipated. That's no excuse. No program should be implemented until it is thought through, and certainly given much more thought than this one was. That is not to say there won't be a few glitches because a new program always has some issues. However, in my opinion, this was a huge - and I mean huge! - miscalculation with no alternate recourse to be made available.
Okay, here's what a lot of folks are saying now after this fiasco: If the government can't run a simple program - and it is simple; customers trade an old car for a new one, the dealer files a claim online, and is supposed to get the rebate back in 10 days for the money that he's already passed on to the customer - then how in the world can we trust the government to handle more complex medical issues? They can't, primarily because they have no clue about the nuances of medical care. They don't have a clue about running a successful, profitable business. (This is not to say that they don't know how to get their hands on money and lots of it.... just ask Axelrod!)
Americans have to wake up from their fairytale dream and realize that the present administration is not their friend. It is not in power to benefit anyone other than those within the administration. And it's their intent, proven by their efforts to take over and destroy every part of American life, to gain as much power as they possibly can which will bring them great wealth at the expense of all the rest of us. When the majority of the people are against something proposed by the Administration, that should tell them something. But not this administration. Not this Congress. They are pushing through with each one of their agendas at the peril of destruction to this nation. Obama is not Prince Charming and this story cannot have a "live happily everafter" ending. That is, unless we as a nation step forward and begin right now to rewrite the story and its ending!
First, the government has placed a heavy shadow on these dealerships (the shadow of being closed down by the government, not based upon profitability but on ambiguity which some say is based upon political positions and favors).
Second, these dealerships have had a lot of their money tied up in loans for their business infrastructure as well as for their inventories for quite a while. Now, they're supporting the government's Cash for Clunkers Program by "loaning" the government these enormous amounts of money with no interest for an indefinite amount of time. (The agreement originally said there would be a maximum of 10-day wait for the reimbursement.)
So, it's easy to understand that these dealerships which had been allowed to continue their automotive business after the first White House "whack-down", signed up in the first place -- perhaps for fear of reprisal if they didn't. However, they're now paying interest on money that was passed on to these "clunker" customers and the White House isn't following through on their end of the deal. I'm sure they're wondering which situation is worse, going out of business because the Great and Mighty White House can arbitrarily shut them down, or having the banks foreclose on their business because they sold too many cars under the government's program for which they have not been reimbursed. I'm sure some of them dealers are finding it very difficult to make their mortgage and loan payments while they wait on the government to reimburse them. They're being screwed. How sad!
The White House says that the problem came about because the program was more successful than they'd anticipated. That's no excuse. No program should be implemented until it is thought through, and certainly given much more thought than this one was. That is not to say there won't be a few glitches because a new program always has some issues. However, in my opinion, this was a huge - and I mean huge! - miscalculation with no alternate recourse to be made available.
Okay, here's what a lot of folks are saying now after this fiasco: If the government can't run a simple program - and it is simple; customers trade an old car for a new one, the dealer files a claim online, and is supposed to get the rebate back in 10 days for the money that he's already passed on to the customer - then how in the world can we trust the government to handle more complex medical issues? They can't, primarily because they have no clue about the nuances of medical care. They don't have a clue about running a successful, profitable business. (This is not to say that they don't know how to get their hands on money and lots of it.... just ask Axelrod!)
Americans have to wake up from their fairytale dream and realize that the present administration is not their friend. It is not in power to benefit anyone other than those within the administration. And it's their intent, proven by their efforts to take over and destroy every part of American life, to gain as much power as they possibly can which will bring them great wealth at the expense of all the rest of us. When the majority of the people are against something proposed by the Administration, that should tell them something. But not this administration. Not this Congress. They are pushing through with each one of their agendas at the peril of destruction to this nation. Obama is not Prince Charming and this story cannot have a "live happily everafter" ending. That is, unless we as a nation step forward and begin right now to rewrite the story and its ending!
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