Was ‘cash for clunkers’ worth it?
It’s time for the post-mortem.
With the $3 billion “cash for clunkers” program winding down tonight, do you think it was worth doing?
On one side of the coin are those who say the devastated auto industry needed a boost. What’s more, consumers got rebates of up to $4,500. And the environment will be better off with fewer gas hogs on the road.
On the other side are those who say this program is just robbing from future sales, so the long-term effect will be negligible. They also say there will be a very limited environmental gain, and it will come at too high of a cost. Some dealers also have been critical of the pace of the government’s reimbursement to them.
So, in the end, what do you say? Thumbs up or down?
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63 comments Add your comment
Tongo
August 24th, 2009
5:34 pm
Why are you asking the question “was it worth it” after the fact–with my tax dollars being spent, the question should have been asked and answered before the program started.
Gene Clotfelter
August 24th, 2009
5:40 pm
The mechanics of the program were terribly flawed. I would like to have seen the program tilted to benefit the three main US Manufacturers, but the sheer number of cars sold, the buzz the industry got– a definition of success.
Mary84
August 24th, 2009
5:50 pm
Tongo, I really liked your comment.
Hank are you paying your employees over $25.00 hour, greet health care,and a retirement plan?
Every couple of years your employees threaten to strike if they don’t get a raise and you are considering to raise their insurance premiums because of the high cost of insurance. Oh yea your CEO make more in one year than the salaries all of employees of a small company will make in 5 years SURE, he will help you meet the criteria.
electrician
August 24th, 2009
6:39 pm
tomhere…get off the iraq and republican lies nonsense, remember..gulf of tonkin +lyndon johnson=58,000 DEAD IN VIETNAM
Anne
August 24th, 2009
6:57 pm
Thumbs down. While cash for clunkers may have stimulated sales in the short term it robbed the economy of full price sales that would have occured naturally over the next year and the tax revenue that followed. It was part of an ongoing bailout of a pet industry and it’s lobbyists as a payback for contributions to re-election campaigns. If it was supposed to be so helpful to the environment , why weren’t the top five most environmentally friendly cars the only ones you could choose from ?
I don’t see any of this spending creating new jobs. But I’ll give him one thing, he sure knows how to spend everybody else’s money !
Faye
August 24th, 2009
8:37 pm
Thumbs down, my 2001 Grand am gets on an averge of 25-27 mpg. I think she runs and looks just fine. I brought this car for the gas mileage back in 2001, so why can the “yuppie class” that needed the Great SUV now get a big “payment” of $4500.00 to change. For many it’s not because of gas prices or to get a better gas mileage vehicle. It’s to be still in the “yuppie class what is in for the moment”
TnGelding
August 24th, 2009
10:31 pm
Two thumbs up. As usual it benefitted the wealthy and middle income too much tho. It’s a shame it punished those of us who had clunkers that got too good of gas mileage. It was intended for short term stimulus and will have very litle effect on future sales.
Barbara Colton
August 25th, 2009
8:35 am
Ridiculous! Thumbs down. Nothing is for free and who do you think is paying for all this. WE ARE!! Minimal effect on our environment. Short term effect on the auto industry. NO MORE TAXES (call it what you will, but we will all pay for this) PLEASE!! Sadddd.
L J Clark
August 25th, 2009
10:14 am
Show us the numbers…
How many people actually bought through the “cash for clunkers” program?
How many voters/taxpayers did not buy and were not helped by this program at all?
The people who need help the worst were not helped at all… going deeper in debt was not an option! Who will bail out these car buyers when they can’t make their car payments six months from now?
Dan C
August 25th, 2009
5:13 pm
First thing the congress and new admin have done that tangibly helped the middle class. We took full advantage of this sweet deal, despite the pandering it represents. In fact, our actual purchase did relatively little to reduce pollution or boost the economy, even though we bought a Toyota Prius.
As middle-class moderates, we’re furious about the $$ that have been showered on the brokers, bankers, managers and unions that have been looting at our expense with full congressional support. We expect the Dems to repeat the Clunkers program next fall in hopes of a bump in the mid-term elections, then perhaps every other year.
It’s going to take nothing short of a balanced budget amendment to get Congress back under some semblance of spending discipline and protect our future generations.
In the midst of all this craziness, the Fair Tax plan is looking far more reasonable and worthwhile.
The Sarge
August 25th, 2009
5:26 pm
Once again, tax dollars are used to enable the stupid, the unwise, and the “doesn’t-apply-to-me” idiots whose irresponsible behaviors, in no small way, led us to the fiscal difficulties we all face:
1) On periodic trips to/from the airport, via public trans, I see far too many single-occupant vehicles/SUVs on traffic-clogged roads. Because we are wedded, to the degree we are, to the horseless carriage, any amount of “clunker trade-ins”, even if the program were to last indefinetly, would not serve the overall purpose of weaning ourselves of the black gold.
2) The average driver, if my observations are of any accuracy, has no idea of how to operate a motor vehicle in a cost-effective manner. The same people who traded-in their “clunkers” for ostensibly more-fuel-efficient vehicles will probably operate these things in a manner inconsistent with efficient operation (anyone for a race to that red traffic light?).
3) Given that irresponsible behavior in one area lends itself to irresponsibility in other facets of life, it will be interesting to see the number of auto loan defaults on these cash-for-clunker deals.
As with many “good ideas” which eminate from OUR government, this program, well-intended as it may have been presented to the public, was/is intended with but one goal…another bailout for a failed American auto industry. That many of the new autos may have been of foreign make is of no matter…because of globalization, the VWs, Toyotas, etc, are just as American as Baseball, Hotdogs, Applepie and Chevrolet.
Worse yet, along with all the recent corporate bailouts, this “clunkers” program will just be another bill for future (many, as-yet unborn) workers to pay off.
HOW MANY OF THOSE FOLKS WILL BE CHORTLING “LIFE IS GOOD”?
Shards1967
August 31st, 2009
8:12 am
Our folks in DC are clunkers, incl the pres.
jwhenry
September 2nd, 2009
1:48 am
This whole stimulus package is just part of the governments long term plan to take away the power of the people. Are we going to do something about it or be lazy and think someone else is going to do it for us? It is time for a revolution. We need to overthrow the government and take our power back. Before there is nothing we can do about it. you should check http://www.obamamortgagerelief.org/