Quote:
Originally Posted by baddog
http://articles.moneycentral.msn.com..._blg=1,1341914
The U.S. government is calling its Cash for Clunkers program a big success, with nearly 690,000 vehicles sold in July and August. But a report by automotive Web site Edmunds.com says the program actually cost taxpayers $24,000 per car sold.
Only 125,000, or 18%, of the sales were incremental, according to Edmunds.com -- the remaining 82% of sales would have happened regardless of the program.
The $24,000 is the price for the sales of vehicles that were a direct result of the program, Edmunds.com said.
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Most people don't understand the different between real growth and artificial growth. If a consumer buys a car now within the cash for clunkers program, he's not going to buy the car he planned to buy in 2011. These stupid stimulus programs don't do a damn thing. People need to stop blindly listening to Bernanke and Obama's administration. They've failed in virtually every economic aspect they've engaged in since Obama became president.