The cash for clunker program is going to save 1/2 day supply of oil in America. That equates to about $300 million. We spent $3 billion to save $300 million.
Posts: 1129 | Location: God's Country | Registered: 13 January 2007
That's the new libmath, Hoob. Not a good ROI, but it makes one FEEL good. And that's important. Besides, it gave a huge influx of business to the UAW, which was the original intent.
"I've found it hard to overestimate the ability of any organization to promote stupid people." -Jack Campbell, "Valiant: The Lost Fleet, Book 4"
Posts: 6108 | Location: Huntsville, AL | Registered: 19 December 2006
Definitely not a good return, and I'm wondering if this is really going to help our domestic carmakers in the long run. Seems like building a better car would insure their future better than government sponsored schemes.
Posts: 1129 | Location: God's Country | Registered: 13 January 2007
After getting a big boost in August from the government's "cash for clunkers" car program, consumer spending dropped 0.5% in September, the Commerce Department just reported. It's the largest decline in nine months.
After the taxpayer paid "sugar fix" for the economy comes to an end, reality returns.
"There are 10^11 stars in the galaxy. That used to be a huge number. But it's only a hundred billion. It's less than the national deficit! We used to call them astronomical numbers. Now we should call them economical numbers." -Richard Feynman
