A clunker that travels 12,000 miles a year at 15 mpg uses 800 gallons of gas a year.
A vehicle that travels 12,000 miles a year at 25 mpg uses 480 gallons a year.
So, the average Cash for Clunkers transaction will reduce US gasoline consumption by 320 gallons per year.
They claim 700,000 vehicles, so that’s 224 million gallons saved per year.
That equates to a bit over 5 million barrels of oil.
Five million barrels is about 5 hours worth of US consumption.
More importantly, 5 million barrels of oil at $70 per barrel costs about $350 million dollars.
So, the government paid $3 billion of our tax dollars to save $350 million.
We spent $8.57 to for every dollar saved.
How good a deal was that ???
They’ll probably do a great job with health care though!!
Cash for Clunkers
6eorge Jetson Saturday, September 12th at 10:03AM EDT (link)Are you refering to the auto version ($3 billion) or the entire Zero™ agenda ($trillions)?
The Zero™ claims it a success. Most giveaways/transfers of wealth do find takers. Yet it was so poorly run that even the dealer beneficiaries began to turn it down.
Obama Candidacy: The original "Cash for Clunkers"
Fred Maidment Saturday, September 12th at 12:14PM EDT (link)Why should we be surprised?
Obama spent more money than any candidate in history to become President. Now we’re surprised that he and the Dems would spend $3 billion to do basically nothing?
Yeah, me neither…
Barack Obama: The wasteful, socialist clunker so many Americans wanted the government to have.
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“I would rather be exposed to the inconveniences attending too much liberty than to those attending too small a degree of it.”
- - Thomas Jefferson, to Archibald Stuart, 1791
But, but it gave money to the people who need it
civil_truth Saturday, September 12th at 12:22PM EDT (link)…the auto workers unions, who in turn will donate more money to Democrats.
Though it would appear many buyers did not buy from the Big 3, so even that transfer didn’t go quite as well as hoped.
That ACORN laundering is leaving some rings on the collars.
Next time, they should just cut out the intermediaries.
And Rightly So!