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. | + | 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== | ||
| + | {{reflist}} | ||
[[Category:Obama Administration]] | [[Category:Obama Administration]] | ||
Revision as of 19:58, October 5, 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:
