Cash from Dummies

About: the ticker - cash for clunkers winds up costing $2.9 billion; toyota the big winner - economy watch 

Part of the unintended consequences of Obama's Cash for Clunkers program gave Toyota a boost in their sales. 
Now just how was that supposed to be a success in helping US Auto Industry?
I wonder also what other unintended consequences lurk on the horizon with the residue of the stimulus & bank bailouts, the carbon credits boondoggle & universal health care getting revved up.

Tags

  1. cash for clunkers
  2. unintended consequences
  3. cash from dummies

Comments


Mark de LA says
~RIP

Taxpayers paid $24,000 per clunker...
Source: ... 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.
...The DOT spins it a different way, of course.

Mark de LA says
Not only was it a boondoggle on the money side of things it was a phoney on the environmental side as well:
Source: ...

According to E Magazine, the “Clunkers” program, which is officially known as the Car Allowance Rebates System (CARS), produced tons of unnecessary waste while doing little to curb greenhouse gas emissions.

The program's first mistake seems to have been its focus on car shredding, instead of car recycling. With 690,000 vehicles traded in, that's a pretty big mistake.

... It was mostly a boondoggle to help Government Motors, eh? 
http://www.emagazine.com/blog/the-cash-for-clunkers-conundrum

See Also

  1. Thought I go with what happens - a qualia with 0 viewings related by tag "unintended consequences".