Difference between revisions of "Cash for Clunkers"

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The [[Congress]]ional [[Democrat]]s and [[Obama administration]]'s efforts to favor [[UAW]] workers and New Car buyers (typically households with $60,000 plus in income) with subsidies from the [[United States Treasury]], has been an unmitigated disaster for working families,  and the poor.  As a result of the federal spending program, working families and the poor now are faced with an average price ''increase'' of 10.3% for Used Cars.
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The [[Congress]]ional [[Democrat]]s and [[Obama administration]]'s efforts to favor [[UAW]] workers and New Car buyers (typically households with $60,000 plus in income<ref>http://wheels.blogs.nytimes.com/2009/08/04/cash-for-clunkers-by-the-numbers/ </ref>) with subsidies from the [[United States Treasury]], has been an unmitigated disaster for working families,  and the poor.  As a result of the federal spending program, working families and the poor now are faced with an average price ''increase'' of 10.3% for Used Cars.
  
 
The government program mandated trade-ins be crushed, leading to a shortage of used vehicles and an increase in prices. This has occurred at a time when '''[[deflation]]''', or an overall drop in prices giving consumers more money to spend, has characterized the current economic environment.
 
The government program mandated trade-ins be crushed, leading to a shortage of used vehicles and an increase in prices. This has occurred at a time when '''[[deflation]]''', or an overall drop in prices giving consumers more money to spend, has characterized the current economic environment.
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The below chart from Edmunds.com shows year-over-year price increases suffered by those least able to afford it:
 
The below chart from Edmunds.com shows year-over-year price increases suffered by those least able to afford it:
 
[[File:Edmunds usedcar prices.JPG|375px]]<br>
 
[[File:Edmunds usedcar prices.JPG|375px]]<br>
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==References==
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{{reflist}}
  
 
[[Category:Obama Administration]]
 
[[Category:Obama Administration]]

Revision as of 14:58, 5 October 2010

The Congressional Democrats and Obama administration's efforts to favor UAW workers and New Car buyers (typically households with $60,000 plus in income[1]) with subsidies from the United States Treasury, has been an unmitigated disaster for working families, and the poor. As a result of the federal spending program, working families and the poor now are faced with an average price increase of 10.3% for Used Cars.

The government program mandated trade-ins be crushed, leading to a shortage of used vehicles and an increase in prices. This has occurred at a time when deflation, or an overall drop in prices giving consumers more money to spend, has characterized the current economic environment.

The below chart from Edmunds.com shows year-over-year price increases suffered by those least able to afford it: Edmunds usedcar prices.JPG

References