Cash for Clunkers Redistribution-Lemon: $24,000.00 for $4500.00, UPDATE: White House Attacks Edmunds

by the Left Coast Rebel
This story is a bit ironic for me as I just came home from having the Jetta-lemon fixed, did you catch my post? Well my tab today was $350.00 for $350.00 worth of labor, parts, profit and overhead. All of that great business 101 stuff that our pols no nothing of today, hence the march to socialism built on a quicksand foundation of economic illiteracy.
Enter Cash for Clunkers, the oft-touted runaway success of nanny-staters that know better than you. Now remember, my $350.00 tab got me $350.00 in car-fixin‘-stuff.
CFC’s $4500.00 cash-pay for each gas guzzler cost to taxpayer per car? $24,000.00
$4500.00 given for incentive, $24,000.00 forcibly taken from taxpayer.
Now that is math that even a 2nd grader would understand….
As obviously being insane, that is; unless it is the government….
More details from the report:

The government could have done almost as well by just giving away cars for free, instead of creating an elaborate incentive program, according to an analysis by the automotive information firm in Santa Monica, Calif.

Well, it’s in how Edmunds crunched the numbers. A valid way to evaluate the program economically, it says, is to look at how many people purchased cars that otherwise wouldn’t have been bought. The firm says that number is about 125,000 cars. By that measure, the government spent $24,000 to generate each sale of a new car.

In all, the government spent $3 billion on a program that provided cash
toward 690,000 car purchases – about $4,348 per car. That makes 565,000 people who got as much as $4,500 to buy a car they would have bought anyway, according to the Edmunds analysis.

Analysis may dampen views about the effectiveness of a one of the most visible pieces of President Obama’s $787 economic stimulus package, designed to save jobs across the US.

Let’s hand over 1/5 of the economy, our health and our lives to these people and this ideology. Right? Have we lost our minds?

Read the rest here

UPDATE: Based on the effectiveness, accuracy and truth behind the Edmunds report, the White House has gone on the attack against the site. Yes, you read that right. Read it @White Going after a benign, non-political auto-site because they dare offer an effective study sends chills down my spine. A White House of wild-eyed college students, MSNBC talking bobbleheads and radical elitist academics using Alinsky-tactics. Which Rule of Radicals would apply here? You tell me.

Cliff over at Another Black Conservative weighs in with this:

Too bad the Obama administration doesn’t have to stomach to take on America’s
real foes like they do with anyone who seems to disagree with “their version of
the truth”.

Today the White House has chosen to battle, Fox News, The Chamber of Commerce, Rush Limbaugh, Insurance Companies and you can even add the CIA. The White House’s latest war is now with for disputing the success of Cash For Clunkers.
Read the rest of his take here.
Also read CJ’s excellent writeup
Via Memeorandum

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