Cash for Clunkers STRIKES AGAIN!

**nnuut** · 10-30-2009, 02:58 PM

The big up tick in the GDP yesterday came in higher mostly due the Cash for Clunkers Program, I don't buy it!! Look at the numbers.

White House fights back on Cash for Clunkers

Obama administration goes to battle with Edmunds.com on Cash for Clunkers analysis, saying the program contributed heavily to last quarter's economic expansion.

By David Goldman, CNNMoney.com staff writer
Last Updated: October 30, 2009: 3:53 AM ET

What I got with Cash for Clunkers

Take a peek at the heaps (no offense) these 6 turned in -- or tried to turn in -- to get their Cash for Clunkers deal. View photos

Are things really getting better?

Last quarter, the economy grew by the largest amount since the summer of 2007, but there are signs that things are still getting worse. See gallery

NEW YORK (CNNMoney.com) -- The Obama administration on Thursday lashed out at a prominent critic of its Cash for Clunkers program, arguing that the popular trade-in initiative helped give the auto industry and the economy a much needed boost in the past few months.
In a blog post on whitehouse.gov, the administration argued that a report on Clunkers by automotive Web site Edmunds.com "doesn't withstand even basic scrutiny" and is based on "implausible assumptions."
On Wednesday, Edmunds.com released a study that argued Cash for Clunkers did not have a great impact on the auto industry. The report said that 690,000 new vehicles were sold under the program last summer, but that only 125,000 of them would not have been sold without the Clunkers rebates.
As a result, the report said, the administration's economic claims for the program "have been rendered quite weak."
The Clunkers program gave car buyers rebates of up to $4,500 if they traded in less fuel-efficient vehicles for new vehicles that met certain fuel economy requirements. A total of $3 billion was allotted for those rebates.
The Edmunds report also said that taxpayers shelled out an average of $24,000 per car sold as a result of the program.
http://money.cnn.com/2009/10/29/news...ion=2009103003

**Buster** · 10-30-2009, 06:36 PM

Originally Posted by nnuut

The big up tick in the GDP yesterday came in higher mostly due the Cash for Clunkers Program, I don't buy it!! Look at the numbers.

White House fights back on Cash for Clunkers

Obama administration goes to battle with Edmunds.com on Cash for Clunkers analysis, saying the program contributed heavily to last quarter's economic expansion.

By David Goldman, CNNMoney.com staff writer
Last Updated: October 30, 2009: 3:53 AM ET

What I got with Cash for Clunkers

Take a peek at the heaps (no offense) these 6 turned in -- or tried to turn in -- to get their Cash for Clunkers deal. View photos

Are things really getting better?

Last quarter, the economy grew by the largest amount since the summer of 2007, but there are signs that things are still getting worse. See gallery

NEW YORK (CNNMoney.com) -- The Obama administration on Thursday lashed out at a prominent critic of its Cash for Clunkers program, arguing that the popular trade-in initiative helped give the auto industry and the economy a much needed boost in the past few months.
In a blog post on whitehouse.gov, the administration argued that a report on Clunkers by automotive Web site Edmunds.com "doesn't withstand even basic scrutiny" and is based on "implausible assumptions."
On Wednesday, Edmunds.com released a study that argued Cash for Clunkers did not have a great impact on the auto industry. The report said that 690,000 new vehicles were sold under the program last summer, but that only 125,000 of them would not have been sold without the Clunkers rebates.
As a result, the report said, the administration's economic claims for the program "have been rendered quite weak."
The Clunkers program gave car buyers rebates of up to $4,500 if they traded in less fuel-efficient vehicles for new vehicles that met certain fuel economy requirements. A total of $3 billion was allotted for those rebates.
The Edmunds report also said that taxpayers shelled out an average of $24,000 per car sold as a result of the program.
http://money.cnn.com/2009/10/29/news...ion=2009103003

I worked the Cash For Clunker program for the NHTSA, approving or disapproving the 700,000 application vouchers (almost 200 hours of OT

)..and I'd say nearly 85% of the vouchers I examined, were for foreign car sales...

**nnuut** · 10-30-2009, 07:14 PM

Originally Posted by Buster

I worked the Cash For Clunker program for the NHTSA, approving or disapproving the 700,000 application vouchers (almost 200 hours of OT

)..and I'd say nearly 85% of the vouchers I examined, were for foreign car sales...

I know what you mean, I own a Nissan and a Toyota, but was thinking about trading in my old truck back during the Trash for Crappers and seriously was considering a Ford or GM product, I think the quality of American cars has improved greatly in the last few years and they are CHEAPER$$$$

**Show-me** · 10-30-2009, 10:16 PM

I just gave $450 for a new clunker to drive back and forth to work. Suckers! How that new car payment and full coverage insurance working for ya. LOL

**Gumby** · 10-30-2009, 11:11 PM

Originally Posted by Show-me

I just gave $450 for a new clunker to drive back and forth to work. Suckers! How that new car payment and full coverage insurance working for ya. LOL

Sounds like you got a good beater car. You despise payment as much as I do. As long as a car runs and is dependable is all a person needs.
My kids all drive newer cars than I do......but I guess I bought them to drive.

**Buster** · 10-31-2009, 02:25 AM

Agree'd, not knocking a beater for anyone....But on the other side of the coin..I like a new car smell and all the warranty that comes with it, not to mention some expensive status image (hey, that's me)..If one can afford a new car, it's just as fine as one owning a paid off beater..both are happy as ticks on a hound dog's ass...

**Show-me** · 10-31-2009, 03:48 AM

Buster,

Can I catch a ride with you. Chick magnets. lol

**Callme_CO** · 10-31-2009, 04:17 AM

I'm happy for you Buster. I'll drive beater cars till the day I die. I bought one new car in my life and have had so many problems with it. Not to mention i'm tired of making the payments on it. But like you said if you want it and can afford it then go for it

Originally Posted by Buster

Agree'd, not knocking a beater for anyone....But on the other side of the coin..I like a new car smell and all the warranty that comes with it, not to mention some expensive status image (hey, that's me)..If one can afford a new car, it's just as fine as one owning a paid off beater..both are happy as ticks on a hound dog's ass...

**CountryBoy** · 10-31-2009, 11:51 AM

Sweet rides Buster,

Love the Hummer.

CB

**nnuut** · 10-31-2009, 04:22 PM

Nice cars Buster, would you consider adopting a soon to be retired Civil Servant?

oldman.gif

**Buster** · 10-31-2009, 07:29 PM

Originally Posted by nnuut

a soon to be retired Civil Servant?

Come on over..I've got to get a few things paid off too, like the hot tub spa I just put in for our old bones..cuz as you know, my time is up next June..