"History is a wonderful thing, if only it was true"

Thursday, October 29, 2009

This is success?

Our tax dollars at work?
What's next ... golf carts (yup)

Edmunds:Cash For Clunkers Cost Taxpayers $24K Per Vehicle Sold - WSJ.com:

"The government's 'Cash for Clunkers' program may have only added 125,000 vehicle sales, according to Edmunds.com, which said the rest of the units sold would have happened regardless of the program.

In total, the car-shopping Web site said about 690,000 vehicles were sold during the program. Edmunds.com said that based on the actual sales gained from the program, the Cash for Clunkers program cost taxpayers $24,000 per vehicle sold.

'Our research indicates that without the Cash for Clunkers program, many customers would not have traded in an old vehicle when making a new purchase,' said Edmunds.com senior analyst David Tompkins. 'That may give some credence to the environmental claims, but unfortunately the economic claims have been rendered quite weak.'"

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