McCaskill, Russ Carnahan differ on “cash for clunkers” program
"Clunker" exchange has kept local dealers busy
Two of the area’s leading Democrats are split on their support for an extension of the “cash for clunkers” program.
The popular program providing a cash bonus for individuals to replace their fuel inefficient autos has already sped through the $1 billion allotted for incentives.
Last week, the U.S. House approved an additional $2 billion for the push. Among those supporting the funding was U.S. Rep. Russ Carnahan, who is scheduled to be at McMahon Ford on Gravois tomorrow to tout his support for the clunker exchange.
“This is a smart program that will help grow our clean-energy economy, cut down on pollution and save money at the pump as we reduce consumption by over 250 million gallons of gas,” the St. Louis Democrat said in a statement. “It goes a long way towards getting Americans back to work and behind the wheel of a cleaner, more environmentally-friendly car.”
Tomorrow is the final day of eligibility for the program unless the Senate endorses the extra funding approved by the House.
If fellow Democrat Claire McCaskill has her way though, that won’t happen. Missouri’s junior senator has Twittered several times over the last few days that she does not support extra cash to get clunkers off the street.
One billion dollars is enough, the former state auditor said.
“Idea was to prime the pump,” McCaskill wrote. “Not subsidize auto purchases forever.”
Will Russ Carnahan ever have an original thought? Does he ever stray from the party line?
Cash for Clunkers:
Buy a $9,000 car with nothing down, get half of it paid for by the feds. Default on your loan a year later. The lender takes the car back, and it gets sold as a used car for $6,000. So the dealer gets his profit, the lender makes $1,500, the state gets its sales tax, and the feds get stiffed. Meanwhile, those of us who already own a car get to pay for somebody else’s car. I guess it isn’t enough that those of us who bought a house at the top of the market get to pay an $8,000 subsidy to everyone who is buying a home at rock bottom prices today. And six months from now, I’ll get to pay for somebody else’s health insurance too. That’s “Change you can believe in.”
Neither of these “geniuses” understand artificial demand. We are creating an artificial demand on a product which will disappear quickly and then the pendulum swings the other way and there is a lack of demand.
Stupid, Stupid, Stupid.
Oh and I sure am glad that they are using my tax dollars to buy other people NEW automobiles when I don’t even buy NEW automobiles myself.
Stupid, Stupid, Stupid.
Interesting fact in the Detroit News on Cash for Clunkers: Less than half of the sales under this program are for American car companies.
http://www.detnews.com/article/20090803/AUTO01/908030384/Big-Three-sell-47-percent-of–Cash-for-Clunkers–sales–Ford-Focus-top-seller
The Dow continues to climb, Housing is taking off, Economic numbers are improving, and the “Cash for Clunkers” is being hailed as a success. And yet these two righties are complaining. And offer no ideas or solutions. Geez! Better order two hankies for Nick and Lunacy, quick!
Well, surprisingly this program is doing just what it was intended to do. It is stimulating the economy. That is a good thing.
Only 47% to the Big 3? So what, any idea how much of those cars is built in Mexico or Canada? Any idea how much of that Toyota was built right here? American car does not equal made in America.
Also, how many of these new cars cost $9000? Come on people, think a bit before you post.
The government subsidizing their own products with tax payer monies. True socialist program.
Gus is obviously about 12 and understands nothing about how the economy works.
It doesn’t work by creating artificial demand which will come to a screeching halt when all the “free” incentives go bye-bye. When you turn on the government faucet to stimulate the economy, what happens IF it is ever turned off is going to make you beg it was never turned on in the first place.
So what happens to all the cars traded in? Do the dealers then sell them on their used car lots? If so, what’s the point of this program? It just seems like a way to waste a couple of billion dollars.