By now most of us are aware of the Cash for Clunkers program that bubbled up through sewage pipes of government and sat like a gator waiting in the toilet for an unsuspecting and extremely vulnerable victim. After less than week, the program went bankrupt. This is par for the course for a bunch of politicians who think using a chubby intern as a cigar snipper is well within the bounds of OSHA regulations. The problem is that the rampaging pack of societal Dr. Mengeles that is the Democrat party seems to be are considering throwing a few more billion tax payer dollars into this program. While nobody brings up the fact that there is nothing in the constitution that gives the government the power to subsidize the purchase an automobile, there are problems with the program that go beyond this. Ultimately Cash for Clunkers is not even helpful to a big chunk of the people who are supposedly benefitting from it.
This is a program that promises to give people $4500 if they trade in their older cars in favor of a newer, more ecologically friendly car. In short, people can trade in that 2000 Impala with the V-6 engine and the “No Fat Chicks” bumper sticker in order to buy a brand new Chevy Aveo or silly little Toyota Prius. On the surface this looks like a good deal but in reality this is the worst trade off since the time that a detention hall regular named Jack traded the family cow for a handful of beans. In the case of the “Cash for Clunkers” program, there is no giant vine leading to a magic world where a golden egg laying goose is waiting to solve all your financial problems, but a giant may step on you.
Anybody who falls for this “cash for clunkers” scam may as well write a letter to the Federal Penitentiary that Bernie Madoff calls home and ask him to handle their retirement nest egg. Let’s start with the fact that most of the cars that fall into the governments “clunker” category are probably paid off. The Obama administration is asking people to trade a life without car payments for a measly $4500. Seeing as one of the stated goals of this program is to help sell one million “new” cars, chances are that the strings attached to the money will prevent people from trading that 2000 Impala for a used 2003 Ford Explorer, or 1998 Mustang. The truth of the matter is that you will be “encouraged” to buy one of those cars that more closely resembles a roller skates with an engine. That sort of vehicle may get a thumbs up from the Sierra Club, but crash test information continually proves that they make you and your family less safe on the highways. Once your $4500 has covered the down payment, you will still be on the hook for at least another $17,000. The buyer is now deeper in debt for the privilege of driving a new car that makes them less safe and that they probably won’t like. Add to that the fact that the insurance payments on a new, financed car is much higher than that of a paid off, older vehicle that was traded in, and the $4500 suddenly looks really small compared to the increase in your monthly bills.
This is a program that promises to give people $4500 if they trade in their older cars in favor of a newer, more ecologically friendly car. In short, people can trade in that 2000 Impala with the V-6 engine and the “No Fat Chicks” bumper sticker in order to buy a brand new Chevy Aveo or silly little Toyota Prius. On the surface this looks like a good deal but in reality this is the worst trade off since the time that a detention hall regular named Jack traded the family cow for a handful of beans. In the case of the “Cash for Clunkers” program, there is no giant vine leading to a magic world where a golden egg laying goose is waiting to solve all your financial problems, but a giant may step on you.
Anybody who falls for this “cash for clunkers” scam may as well write a letter to the Federal Penitentiary that Bernie Madoff calls home and ask him to handle their retirement nest egg. Let’s start with the fact that most of the cars that fall into the governments “clunker” category are probably paid off. The Obama administration is asking people to trade a life without car payments for a measly $4500. Seeing as one of the stated goals of this program is to help sell one million “new” cars, chances are that the strings attached to the money will prevent people from trading that 2000 Impala for a used 2003 Ford Explorer, or 1998 Mustang. The truth of the matter is that you will be “encouraged” to buy one of those cars that more closely resembles a roller skates with an engine. That sort of vehicle may get a thumbs up from the Sierra Club, but crash test information continually proves that they make you and your family less safe on the highways. Once your $4500 has covered the down payment, you will still be on the hook for at least another $17,000. The buyer is now deeper in debt for the privilege of driving a new car that makes them less safe and that they probably won’t like. Add to that the fact that the insurance payments on a new, financed car is much higher than that of a paid off, older vehicle that was traded in, and the $4500 suddenly looks really small compared to the increase in your monthly bills.
There are lots of dumb people who will fall for this scam. It was probably unethical for the government to tempt folks into making a financial move they probably won’t be able to afford in the long run. If this is what Washington is going to call sound fiscal policy, perhaps everyone in America would be better off if they just stuffed all their extra cash in a mattress until the Obama Administration goes away.
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