Comments on: Cash for Clunkers Comes Crashing Down http://blog.heritage.org/2009/10/02/cash-for-clunkers-comes-crashing-down/ Tue, 14 Feb 2012 19:53:39 +0000 hourly 1 http://wordpress.org/?v=3.3 By: BizzyBlog http://blog.heritage.org/2009/10/02/cash-for-clunkers-comes-crashing-down/#comment-135301 BizzyBlog Fri, 09 Jul 2010 14:06:23 +0000 http://www.foundry.org/?p=16249#comment-135301 [...] Obama, that intervention began with an $862 billion stimulus, and it was joined by a failed Cash for Clunkers program, a government takeover of the domestic auto industry, a bailout of Fannie and Freddie that [...] [...] Obama, that intervention began with an $862 billion stimulus, and it was joined by a failed Cash for Clunkers program, a government takeover of the domestic auto industry, a bailout of Fannie and Freddie that [...]

]]> By: Department of Offense » Anti-Business Obama http://blog.heritage.org/2009/10/02/cash-for-clunkers-comes-crashing-down/#comment-135279 Department of Offense » Anti-Business Obama Fri, 09 Jul 2010 13:36:46 +0000 http://www.foundry.org/?p=16249#comment-135279 [...] Obama, that intervention began with an $862 billion stimulus [6], and it was joined by a failed Cash for Clunkers [7] program, a government takeover [8] of the domestic auto industry, a bailout of Fannie and [...] [...] Obama, that intervention began with an $862 billion stimulus [6], and it was joined by a failed Cash for Clunkers [7] program, a government takeover [8] of the domestic auto industry, a bailout of Fannie and [...]

]]> By: Morning Bell: Speaker Pelosi’s Job-Killing Agenda | The Foundry: Conservative Policy News. http://blog.heritage.org/2009/10/02/cash-for-clunkers-comes-crashing-down/#comment-80763 Morning Bell: Speaker Pelosi’s Job-Killing Agenda | The Foundry: Conservative Policy News. Wed, 13 Jan 2010 14:38:20 +0000 http://www.foundry.org/?p=16249#comment-80763 [...] program as another success despite the fact the program did nothing to create auto sector jobs, led to a crash in auto sales, and did nothing to help the environment. Pelosi also celebrated the expansion of the State [...] [...] program as another success despite the fact the program did nothing to create auto sector jobs, led to a crash in auto sales, and did nothing to help the environment. Pelosi also celebrated the expansion of the State [...]

]]> By: Morning Bell: The Definition of Economic Insanity | Step Down Obama http://blog.heritage.org/2009/10/02/cash-for-clunkers-comes-crashing-down/#comment-73011 Morning Bell: The Definition of Economic Insanity | Step Down Obama Fri, 04 Dec 2009 20:00:34 +0000 http://www.foundry.org/?p=16249#comment-73011 [...] aid to states go to preserving government jobs and not tax cuts, and others pushed to bring the “success” of Cash for Clunkers to a new Cash for Caulkers [...] [...] aid to states go to preserving government jobs and not tax cuts, and others pushed to bring the “success” of Cash for Clunkers to a new Cash for Caulkers [...]

]]> By: Cash for Clunkers: The Bus Version | Conservative Principles Now http://blog.heritage.org/2009/10/02/cash-for-clunkers-comes-crashing-down/#comment-62823 Cash for Clunkers: The Bus Version | Conservative Principles Now Wed, 21 Oct 2009 18:58:23 +0000 http://www.foundry.org/?p=16249#comment-62823 [...] And like cash for clunkers, it will most likely do neither. Although Secretary of Transportation Ray LaHood believes “investing in green transportation not only helps the planet, but creates jobs and strengthens our economy”, one should take a look at how the cash for clunkers program fared. Yes, consumers took advantage of the taxpayer-funded handout to buy a new car while completely destroying their old one, but after the subsidy program ended so too did car sales. Sales in September for Chrysler, Ford and GM plummeted. [...] [...] And like cash for clunkers, it will most likely do neither. Although Secretary of Transportation Ray LaHood believes “investing in green transportation not only helps the planet, but creates jobs and strengthens our economy”, one should take a look at how the cash for clunkers program fared. Yes, consumers took advantage of the taxpayer-funded handout to buy a new car while completely destroying their old one, but after the subsidy program ended so too did car sales. Sales in September for Chrysler, Ford and GM plummeted. [...]

]]> By: Freedomof Speech TX http://blog.heritage.org/2009/10/02/cash-for-clunkers-comes-crashing-down/#comment-59385 Freedomof Speech TX Mon, 05 Oct 2009 14:04:36 +0000 http://www.foundry.org/?p=16249#comment-59385 In the not-to-distant future, we'll all be driving "clunkers" because most of us will not have any money to buy anything new. We can "evolve" like the former bastions of marxism, East Germany and Soviet Union, and have only one fuel efficient model! Of course, mercedes and volvos will still be available to high level party members. So, sign up now and begin your seniority! In the not-to-distant future, we'll all be driving "clunkers" because most of us will not have any money to buy anything new.

We can "evolve" like the former bastions of marxism, East Germany and Soviet Union, and have only one fuel efficient model!

Of course, mercedes and volvos will still be available to high level party members. So, sign up now and begin your seniority!

]]> By: Cash For Clunkers is an Economic Clunker | The Patriot's Mind http://blog.heritage.org/2009/10/02/cash-for-clunkers-comes-crashing-down/#comment-59273 Cash For Clunkers is an Economic Clunker | The Patriot's Mind Mon, 05 Oct 2009 03:42:30 +0000 http://www.foundry.org/?p=16249#comment-59273 [...] 3 auto makers in the US posted record sales drops in the month of September to the tune of 33%-37%. Heritage explains below… The dramatic decline in sales reported Thursday by the Big Three automakers suggested the [...] [...] 3 auto makers in the US posted record sales drops in the month of September to the tune of 33%-37%. Heritage explains below… The dramatic decline in sales reported Thursday by the Big Three automakers suggested the [...]

]]> By: jadedfellow aka rene http://blog.heritage.org/2009/10/02/cash-for-clunkers-comes-crashing-down/#comment-59270 jadedfellow aka rene Sun, 04 Oct 2009 22:11:15 +0000 http://www.foundry.org/?p=16249#comment-59270 It was one of the most absurd ideas ever to come out of Washington. I don't know if this is true or not but I read somewhere that we just spent 3 billion to save 300 hundred thousand dollars in gas over the next 5 years. Even if it saved 3 million dollars it should go down as the worst investment in American history. Man I thought I made bad investments. After this I consider myself a financial genius; at least I don't cap my trades with other people's money. It was one of the most absurd ideas ever to come out of Washington. I don't know if this is true or not but I read somewhere that we just spent 3 billion to save 300 hundred thousand dollars in gas over the next 5 years. Even if it saved 3 million dollars it should go down as the worst investment in American history. Man I thought I made bad investments. After this I consider myself a financial genius; at least I don't cap my trades with other people's money.

]]> By: Bobbie Jay http://blog.heritage.org/2009/10/02/cash-for-clunkers-comes-crashing-down/#comment-59251 Bobbie Jay Sun, 04 Oct 2009 19:46:21 +0000 http://www.foundry.org/?p=16249#comment-59251 It's because Obama does not think beyond his words of ideas nor acknowledges anybody who does. He was well informed of the potential consequences of this idea and here we are. Thank You to Ford, for not weakening to the hand of government! It's because Obama does not think beyond his words of ideas nor acknowledges anybody who does. He was well informed of the potential consequences of this idea and here we are.

Thank You to Ford, for not weakening to the hand of government!

]]> By: Tom Nally, New Orlea http://blog.heritage.org/2009/10/02/cash-for-clunkers-comes-crashing-down/#comment-59208 Tom Nally, New Orlea Sun, 04 Oct 2009 08:47:11 +0000 http://www.foundry.org/?p=16249#comment-59208 <blockquote>"The firm forecast that the program was likely to have no effect as a stimulant for national economic output.”</blockquote> How could it have a stimulating effect? It was nothing but another example of Bastiat's broken window fallacy. Every single Cash For Clunkers transaction cause a net destruction of wealth. The wealth never to be recovered was the market value of the clunker which was destroyed. You cannot make yourself wealthier by flowing $100 bills through the office shredder. In essence, that's what Cash For Clunkers did. And for this act of genius, I'm sure our astute Congressmen were popping the corks off the most expensive champagne to be had in Washington D.C. ---Tom Nally, New Orleans

"The firm forecast that the program was likely to have no effect as a stimulant for national economic output.”

How could it have a stimulating effect? It was nothing but another example of Bastiat's broken window fallacy.

Every single Cash For Clunkers transaction cause a net destruction of wealth. The wealth never to be recovered was the market value of the clunker which was destroyed. You cannot make yourself wealthier by flowing $100 bills through the office shredder. In essence, that's what Cash For Clunkers did.

And for this act of genius, I'm sure our astute Congressmen were popping the corks off the most expensive champagne to be had in Washington D.C.

—Tom Nally, New Orleans

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