Taxpayers Paid $24,000 Per Car For ‘Clash For Clunkers’

October 29, 2009 · Filed Under U.S. News · 1 Comment

From CNN:

A total of 690,000 new vehicles were sold under the Cash for Clunkers program last summer, but only 125,000 of those were vehicles that would not have been sold anyway, according to an analysis released Wednesday by the automotive Web site Edmunds.com.

…The average rebate was $4,000. But the overwhelming majority of sales would have taken place anyway at some time in the last half of 2009, according to Edmunds.com. That means the government ended up spending about $24,000 each for those 125,000 additional vehicle sales.

It doesn’t matter how these jerks in Congress (from both parties) try and spin it. Once again, the American tax payer took it up the ass for a program we all knew was BS from the beginning. Every single thing our government has done to allegedly alleviate the recession has been about paying off special interests. The phony stimulus was one of the greatest thefts in world history. It was $787 billion dollars of pork and special interest bribes.

“Cash For Clunkers” was total horseshit from the moment it was conceived. It turned out exactly like many of us knew it would — as grand theft auto. It was smoke and mirrors just like everything else coming from the federal government.

You think this is bad, just wait until ObamaCare kicks in.

Tags: big spending liberals, Business, cash for clunkers, phony stimulus, Recession