Monday, August 03, 2009

Repo the Republican Clunkers

The cash-for-clunkers program has been such a huge success that it is out of money. Originally scheduled to last four months until November 1, the $ 1 billion stimulus program exhausted all available funds in ten days. If Congress doesn't extend it this week, the program goes belly-up.

Obama's cash-for-clunkers program rescued car manufacturers who just months ago were at bankruptcy's doorstep. Ford Motor Co. just reported its first profitable month in two years. The program also has been putting money in the pockets of car salesmen, many of whom, in our experience, are notorious spenders -- which means they'll be passing that dough onto other businesses, which will in turn spend it on their inventory and employees, etc. etc. etc.

The program is popular with car owners, of course. And, it has removed a quarter of a million old gas-guzzling monsters forever from the highways, replacing them with more fuel efficient passenger vehicles:
"It's the gift that keeps on giving," says George Pipas, a sales analyst at Ford Motor. "We estimate fuel savings at about 3 million barrels of crude (oil) annually, forever. It might not sound like much, but it was accomplished in a week. This could be the biggest shot in the arm for energy conservation ever to come from inside the Beltway."
Only an oil sheik should hate the program. So, why is it that Republican senators want to stop it in its tracks? One Senate GOP leader opposed to extending the program is Jim DeMint (R-S.C.). "We've got to slow this thing down," he said yesterday. John McCain (R-AZ) is even threatening a filibuster!

What is wrong with the Republicans these days? These birds gave away hundreds billions of dollars in tax breaks to the richest top 2 percent of the nation seven years ago. In a single stroke, they handed more than $20 billion in excess profits to drug and pharmaceutical companies in 2004. They spent over $2 trillion on a worse than useless war in Iraq. With all those no-bid contracts, they feathered the nest of Halliburton Corp. with more money than the entire "cash-for-clunkers" would cost, and got little other than fraud and corruption in return. As for the hundreds of billions Bush gave Wall Street banks last year.....

But, put a little stimulus money where it really does some good -- in the hands of middle- and low-income consumers needy enough to spend it right away -- and what's the Republican response? "No!"

It's time to repossess all the Republicans. They're belching smoke. They look terrible. Their ideas are way out of date. And, they just don't work well anymore.


Anonymous said...

McCain does not give a flip about the budget or the economy or any body else. He always looks out for used car dealers who surround the Indian reservations with junk cars.

Anonymous said...

Nancy cares....about herself ... so keep those card$ and letter$ coming! And save YOUR carbon footprints cause she's got some BIG SHOES

The lastest joke of the concerned Democraps.

Nancy Pelosi wasn't happy with the small private jet that comes with the Speaker's, Madame Pelosi was aggravated that this little jet had to stop to refuel, so she ordered a Big Fat 200 seat 757 jet.
Since Nancy only works 3 days a week, her gas guzzling jet gets fueled and she flies home to California , cost to the taxpayers of about $60,000 one way!
As good ole Joe put it, 'Unfortunately we have to pay to bring her back on Monday Night.' Cost to us is another $60,000. Folks, that is$480,000 per month not including crew,.and that is an annual cost to the taxpayers of $5,760,000.

Madame Pelosi wants you and me to conserve our carbon footprint. She wants us to buy smaller cars and Obama wants us to get a bicycle pump and air up our tires.
And she wants to tax our 401K and IRA accounts.

panicbean said...

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Best of luck to you!


RevDisk said...

$3 billion program. I've heard estimates of up to 5 million barrels of oil saved, which is very roughly $350 million.

From oil alone, we spent $8.57 for $1 dollar saved. This does not include administrative costs, law suits, fines, disposal costs, etc obviously.

So if everyone keeps their vehicle for eight and a half years (and milage doesn't degrade over the lifespan of the vehicles), it'll be a neutral program from a oil dollar standpoint. Not from an economic standpoint, of course, as the program money was not invented out of thin air. We're running slightly over 50% deficit spending. So, guestimated, $1.5 billion has to be repaid plus interest payments, while the rest came out of general revenue.

Self-Disclosure : I'm non-partisan and not overly fond of either party. Govt spending just generally hurts my brain, as it's an incredibly byzantine system and quite inefficient.