Congress OKs $2 bil refill of 'cash for clunkers'
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14 Comments
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0
rajakumar
USD 2000 MILLION only in cash for old cars.
Still very little,when almost 100s of billions are spent to boost military industries.
0
smithinjapan
I think this program is a decent example of the axiom "you have to spend money to earn money", although it's the government spending and the car companies earning. Still, if it spurs growth and helps pay for slightly more environmentally friendly vehicles, all the better. Japan's been doing this for the past little while as well and it has helped sell more vehicles than ever (particularly with people having more incentive to buy hybrid cars).
0
SushiSake3
Looks like the GOP - the Party Of 'No' - just couldn't stop this measure passing.
smithinjapan - "I think this program is a decent example of the axiom "you have to spend money to earn money", although it's the government spending and the car companies earning. Still, if it spurs growth and helps pay for slightly more environmentally friendly vehicles, "
Bang on target!
Nevertheless, the GOP and their conservative supporters will no doubt broadbrush anything like this as 'government intervention' and therefore SOCIALISM!! and try to stop it at all costs, despite clear evidence that this measure is boosting the economy AND U.S. automaker sales.
0
Triumvere
Meh. Not a bad idea, but I question the timing... This could have been used to ecourage the purchase of new fuel efficient vehicles from the restructured Big Three, thus aiding the ailing auto industry and promoting the next generation of green vehicles. Only thing is, the Big Three aren't restructured yet nor have the developed these next generation vehicles, so we're only getting a fraction of the value out of this we could have gotten.
0
SushiSake3
Triumvere - the majority of the new cars being purchased are Japanese - which, as we all know are in a completely different league in terms of fuel efficiency than US Big 3 vehicles.
This has a 2-pronged benefit -
1/ Urge the US Big 3 to - for the first time ever - get their act together and start building cars that have a smaller environmental footprint.
2/ Spur the purchase of the world's most fuel-efficient vehicles - which are all Japanese at this stage.
"Only thing is, the Big Three have [not] the developed these next generation vehicles"
That is entirely of their own doing.
0
Madverts
"That is entirely of their own doing"
You can hardly blame the constructors for making what American customers wanted.
Go back 4 or 5 years and talk of fuel economy in the US....nobody gave two hoots until the gas got dearer.....
American innovation has been too good years gone by to be discarded.
0
Madverts
"Cash for clunkers" has been a good idea in Europe. Obviously most of the cars traded in went to Africa or eastern Europe instead of being scrapped as was intended, but let's be fair, the black economy has to turn.
On the up-side, it pushes up the price of cheaper second hand cars, simply because there are less available due to scrapping. New cars sell and used cars are worth more.
It's a win-win.
0
TheQuestion
I'm personally loving this, I've got some equity in a junk yard my brother started a few years back and this is driving the price of some parts through the roof. Although, I almost feel bad for the folks that have to buy off of little bro' , if the CfC program jacks up the price 20% he'll up it double that, just for starters, makes me proud.
0
Triumvere
Sushi,
Oh, I'm sure it's good for the enviroment, and it should be noted that many of the "foreign" cars are being built in the US anyway. It's just, given that the US gov't has invested so heavily in the Big Three there is a lot of wasted potential here.
0
adaydream
Those Japanese cars being sold are made here in the US in a lot of cases. So we're selling cars that we made here at home. < :-)
0
SuperLib
Nope. The majority of new cars being purchased are not Japanese.
Nope. I've shown quite a few links to actual fuel efficiency ratings which show US and Japanese companies dominating the top spots with everyone else pretty far behind. The Prius is the one exception.
Nope. See the above. I'm not going to provide links for you anymore. You obviously have no intention of learning the facts of the situation.
Nope. Again, just pure fantasy from someone who only speaks in hyperbole to attract the greatest number of uneducated followers.
Sushi, I've seen you mix in half-truths, leave out information, skew information, present biased information, just about everything. But I don't think I've ever seen to present yourself as totally clueless on an issue as you do the auto industry. But by all means, please don't let that stop you from typing away. One can only wonder what you'll come up with next.
0
TheQuestion
2 is nowhere near enough. There is more money to be made now that these cars are gone than when they were still functioning. For starters there's the scrap trade which will make some hefty cash by melting down and selling the metals, fabricators that may be needed to produce auto parts that may not exist a few years, repair shops to fix the ageing fleet, junk yards, and a slew of other small time industries. It's times like these when I can tolerate socialism, times when it stands to make me and others like me wealthier than everyone else ;) .
0
Molenir
It probably won't surprise anyone to learn that I'm against the cash for clunkers program. Not only for the reason that I don't like the government bailing out the auto industry, or any industry for that matter. But for how its being run, how its been managed, and the overall results of it. If you do some reasearch on the subject, you'll see that while its possible to trade in your car that gets 18 mpg for a car that gets 21 or 22, you can't trade in your car getting 18 for one that gets 40 or more mpg. If they were really serious about doing it for environmental reasons, that would have been the preferred choice. But that wasn't it. This is merely a direct spur to the big 3, payed for by taxpayers. While the reasoning behind it is slightly better then giving the carmakers cash directly, its not much better at all.
0
hworta269
The government is borrowing money to pay for this crap and promising to steal money from Americans in the future to pay it back. The government doesnt stimulate the economy, private enterprise does this just fine. What about when this bottomless pit for money expires what are they going to do next?
The excess pollution created manufacturing these new fuel economy cars is greater then the exhaust of a normal car for its entire lifespan. Now seeing as how all these politicians have stocks in companies with these green devices its no wonder why they want Americans to scrap things they own which are paid for and working perfectly to go in to more debt to buy crap they dont need in the first place. The whole you have to spend money to keep from going bankrupt is the most absurd thing I have heard any politician ever utter.
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