• Trouble logging in? Send us a message with your username and/or email address for help.

clunkers program done already?

New posts
5 bullet points won't cover it - luckily there are thousands of posts here on a wide variety of subjects so you can figure it out for yourself. :wave:
 
Interesting Article from Atlanta Car Dealerships:

Entire Article HERE: Some Atlanta Dealers Putting Brakes On Cash For Clunkers - News Story - WSB Atlanta
Some Atlanta Dealers Putting Brakes On Cash For Clunkers

Posted: 6:34 pm EDT August 4, 2009Updated: 7:38 pm EDT August 4, 2009
Two of metro Atlanta's busiest car dealers are putting the brakes on the Cash for Clunkers program.Both dealerships fear the government will not make good on the program's debts.The program, officially called the Car Allowance Rebate System, or CARS, is designed to help consumers buy or lease a more environmentally friendly vehicle from a participating dealer when they trade in a less fuel-efficient car or truck.Consumers can earn either $3,500 or $4,500 in exchange for their gas guzzlers. The federal program is designed to energize the economy, boost auto sales and put safer, cleaner and more fuel-efficient vehicles on the nation's roadways.The program originally had $1 billion earmarked to fund it. Those funds were gone in a week. House lawmakers have approved another $2 billion to fund the project. The Senate has yet to vote on it.The Jim Ellis Automotive Group began turning customers away Monday night."As of last night, there's a moratorium," Jim Ellis Chevy General Manager Mark Frost told Channel 2's Jim Strickland. "We're not doing any more Cash for Clunkers deals until we get word that the Senate has approved the additional $2 billion."Jim Ellis Chevy in Chamblee has to use remote lots to store more than 200 clunker trade-ins. They've got plenty on the line should the government not pay."About $800,000, and it's making us pretty nervous."Dealers started applying for rebate payments a week and a half ago, but they complain the government's procedure is as clunky as the cars."We don't know what they're waiting for, if we've missed something," Jason Moore at Kia of Conyers reported. "If they're requesting something more. We're just in limbo of what happens next." {snipped}
 
I'll take one issue with this. A majority of that spending is on domestic durable good and employment / benefits payments to american citizens. In fact our recent GDP numbers were boyed signifigantly thanks to military related domestic durable goods purchases.

We can discuss whether this money is better spent on something else - unemployment, free healthcare, birdges and roads, or even not at all (we could reduce the national deficit by pulling all our troops back home.) But generally military spending, especially during a major economic downturn, is certainly not wasted. This bares out in current economic data and in historical data from previous wars - military spending is essentially another form of stimulus. So take your pick, cash for clunkers or a new jet plane, the differences in terms of the effects on the economy don't exist.


durable_goods_military_vs_non-milit.png

omg
 
I'm wondering with all this fuel efficiency, when the price of gas is going to double to make up the difference. The government doesn't own the oil companies. :roll:
 
Part of what increases gas prices is demand - by driving more efficient cars we reduce the demand and thus the prices.

Doesn't prevent OPEC etc. from trying to jack up prices, but it does generally keep prices lower.
 
I'm wondering with all this fuel efficiency, when the price of gas is going to double to make up the difference. The government doesn't own the oil companies. :roll:

Whew...now I feel I can drive our clunker without fear. My latest theory was government officials carjacking those of us driving clunkers, handing us a big ol' check and dropping us at the nearest car dealership. :eek: But, the oil companies will be our saviours on the street:biggrin:
 
New posts


Sign Up for SoWal Newsletter












                               
Back
Top