Obama Stimulus Success Cash for Clunkers the results and feedback from dealers and economists

Cash for Clunkers sold 250,000 cars within a week and there is no bigger stimulus this fast.

Consumers are trading in cars or clunkers that have an average of 15 mpg for cars that have an average of 27 mpg, a 55% increase in energy and gas savings.

States get an average of $2,000.00 back from taxes to each new car sold.

Both Democrats and Republicans say that this stimulus is a success.

The economy contracted only 1% in the last quarter and as it returns into the positive and growth this will create jobs and continue to increase demand for cars.

Category:

People & Blogs

Tags:

• Obama
• economy
• stimulus
• cash for clunkers

[TheDeficits]

I guess you didn't watch the video.

[Twilightifyable]

3/3

The simple reason government spending fails to end recessions is that Congress does not have a vault of money waiting to be distributed. Every dollar Congress “injects” into the economy must first be taxed or borrowed out of the economy. No new income, and therefore no new demand, is created. They are merely redistributed from one group of people to another. Congress cannot create new purchasing power out of thin air.

[Twilightifyable]

2/3

This is no longer a theoretical exercise. The idea that increased deficit spending can cure recessions has been tested, and it has failed. If growing the economy were as simple as expanding government spending and deficits, then Italy, France, and Germany would be the global economic kings. And there would be no reason to stop at $787 billion: Congress could guarantee unlimited prosperity by endlessly borrowing and spending trillions of dollars.

[Twilightifyable]

1 /3

nrd.nationalreview com/article/?q=MTViNmZiZmQ4NmM­xM2Y5NmEzNWIwYWRmNmNhMWJlY2I=

$787 billion (actually $862 B) “stimulus” a flop. In a January report, White House economists predicted the bill would create (not merely save) 3.3 million jobs. Since then, 2.8 million jobs have been lost, pushing unemployment toward 10 percent.

[doug625ut]

not a bad idea, but our government has already messed this program up!!!

[tubularpick]

Use the TARP money!!!

[WlSENUBlAN]

this video has all of the "cash for clunkers" cons cut out. it is deceptive and not worth watching. "cash for clunkers" crushes cars that poor people can drive. it drives up the cost of the remaining cars at the used car dealerships. it does more harm to the environment than good.

[TranCendenZ]

TheDeficits: Watch the video at 1:52. The video was OBVIOUSLY edited so that the woman on the far right wasn't even allowed to make her view point.

This video isn't fair and balanced. The viewer needs to hear BOTH sides of the argument for Cash for Clunkers.

[TranCendenZ]

Cash for Clunkers is NOT a success. Destroying running cars at a cost of $4,500 per "clunker" is counterproductive. Only the people in the car industry are the winners, but tax payers are losing $3 billion.