The whole clunkers program is wrongheaded
1. A good number of people who will take part in this program will end up having a hard time paying the loan and finance charges, not to mention on a new car their insurance rates will go through the roof.
2. We will take people who have been saving and now put them in debt which raises our national debt, and if our job loss keeps rising, as predicted, we’ve now put these folk’s security in jeopardy.
3. People can also trade their 23 mile per gallon clunker car in for an SUV that gets 23 miles per gallon, putting the buyer in deeper debt and not helping the environment at all. In fact, after all is said and done, these program could make a number of things worse.
4. The waste of crushing, melting and shipping these old cars to China won’t save us that much energy or money in the end.
5. The American People do not make out as well in this deal as the Japanese car companies where profits, capital, go to Japan not the United States.
6. Most car dealers are republican, as well as management and CEOs of car companies, these people will fair well, as will the bankers, but come the election time they won’t be voting Democrat or Obama.
7. We could take the $4,000 and sunk it into many more new and efficient engines and reuse perfectly good older bodies, recycle. This would also help the little guy on Main Street who would hire more working class people, engage entrepreneurs and community colleges. We could try experimental engines and *scooters which would be the catalysts for a new greener industry. We would actually be making things again.
In order to get out of debt we have to start saving and in order to save we have to start saving.
It seems that the only way the US will stop this constant and obsessive spending spree is for the Chinese People and the Saudi Royals to stop funding our debt. Regardless, of political party this is becoming a great concern for our National Security and our Sovereignty.
tanks fer u’r time
THE FINE PRINT
thanks to mdj
Like the current Obama plan you personally don’t see the cash.
Under my plan, you’d get a voucher after you prove ownership of the vehicle for at least 18 months and you get 18 months to use it or lose it.
Then you have to replace the engine in the vehicle at a certified dealership or mechanic, but you get at least another 100k to 120k+ miles worth of life out of your current vehicle and you can upgrade if you want to a better engine as long as it meets the environmental guidelines, but you have to pay any extra on your own or take out a low 6% loan (plus a .5% banks fee), if the car needs a tranie or other useful and important mechanical things. The certified mechanic will give you a written low down for the low interest rate.
If you trade the vehicle in for a new and efficient *scooter – the vehicle is then donated to a school and a new and efficient engine is installed and sold for blue book price. If the vehicle’s body is in sad shape it’s sold for scrap or used for parts. All proceeds are then used for auto mechanic training.
So the $2k comes with a few strings.
But, it boosts the American Economy on Main Street, creates real jobs and skills for a lot of kids and displaced workers, helps to makes the air fresher and cleaner, we throw little away and save money on gas.i It’s a win win for everyone accept the CEOs and Banks.
See, my plan is much better than Obamas. I’ve just created more jobs in an afternoon than he’s created in six months.
However, the only reason this plan will never see the light of day is because Upper Management, Banks and CEOs are holding the White House and Congress hostage. Until that changes we’re still looking to see how far down this financial abyss really goes.