Cash for Clunkers Program

[N4S]

I'm not for it.

It's just another attempt to cripple a private industry in America and make it a government run operation. This is happening all over.

They are printing the money with the assumption that they will be taxing us to back up the bonds that are supposed to pay for these printed dollars.

So, really, they are stealing this money from us. America is operating in a deficit and we have no money.

The only way to pay for these government programs is to first tax small businesses (which has lead and will lead to more layoffs and closings), and then FURTHER tax all middle class income households.

Thoughts?

[neilgolli]

I also love how a program budgeted to last until November ran out of money in a week. I cannot wait for them to "fix" my great healthcare.

Ill bet my life that once the additional 2 billion allocated is spent, you will see a huge drop in car sales for months, leaving the program just a waste of federal tax money.

[nixer]

also if they cant pay the already extended unemployment and are talking about not extending it again there wont be anyone working, hence less tax base plus more increased spending.

[dc4teg]

everything the goverment is doing now reflects what they did to help solve the great depression, like giving out money, it DID not work!, we are going to be worse off than gremany after WWI a bucket of 100 dollar bills wont even buy a loaf of bread....

[BMorrison]

I think the part that doesn't make sense to me is that this cash for clunkers is supposed to be helping the economy. Ok I understand that part I suppose but here's what I don't get... You're going to give someone a new car for an old one... what happens when they default on this new car?

[Freakie_frog]

the true problem with the cash for clunkers program is the same on that caused the housing market problem..If you couldn't afford a new car before guess what you still can't. People fore get that while the 4500.00 credit seems great, you'll be paying higher insurance, higher tag cost, higher upkeep.

Same with the housing problem. After Katrina the government in an attempt to "Strengthen the economy" made it so that anyone with a minimum wage job could afford to buy a 250K house with no problem..Problem is 99.9955% of those people that bought couldn't qualify for a fixed rate loan and didn't understand that adjustable rate mortgages is a fast track to being bankrupt. So every body and their dog was buying at the max of what the qualified for loan wise and two years later interest rates go up and that 850.00 a month note goes to 1200.00 then because the value of the home is less that 80% of the loan value the bank requires mortgage insurance that's another 100.00+ a month. So a house that you could barely afford to start with just became way to expensive "AGAIN" and poof foreclosures out the ears banks start loosing money cause they were forced by the banking community reinvestment act to loan to these high risk people. Credit gets tight so company's that were running a credit line against accounts receivable now can't pay their employees so layoffs happen and people can't pay their bills so they start loosing their cars and house..

Its a cycle. The only way to stop it is to quit giving money and credit away and make people work for what they own. It might mean that there are people that can't drive a new car every 3 year *GASP* or live in big 250K house *outrage* but them's the breaks.

[soy.lor.n]

Not to mention that to produce a new car, it requires approximately 10% of the energy the car will use over it's lifetime... in other words, on average, it takes the equivalent of 27 barrels or 1142 gallons of oil to produce a new car...

ETA: And they are required to destroy most of the car, which I'm pretty sure goes against the whole reduce, reuse, recycle thing. I assume they can do some amount of recycling of the old cars (it would be completely absurd if not), but they're encouraging us to increase consumption, not reduce it, and they're destroying the parts instead of reusing them.

C4C is EPIC FAIL for the environment

[nixer]

Not to mention that to produce a new car, it requires approximately 10% of the energy the car will use over it's lifetime... in other words, on average, it takes the equivalent of 27 barrels or 1142 gallons of oil to produce a new car...

ETA: And they are required to destroy most of the car, which I'm pretty sure goes against the whole reduce, reuse, recycle thing. I assume they can do some amount of recycling of the old cars (it would be completely absurd if not), but they're encouraging us to increase consumption, not reduce it, and they're destroying the parts instead of reusing them.

C4C is EPIC FAIL for the environment

they are only required to disable the engine

[neilgolli]

the true problem with the cash for clunkers program is the same on that caused the housing market problem..If you couldn't afford a new car before guess what you still can't. People fore get that while the 4500.00 credit seems great, you'll be paying higher insurance, higher tag cost, higher upkeep.

Same with the housing problem. After Katrina the government in an attempt to "Strengthen the economy" made it so that anyone with a minimum wage job could afford to buy a 250K house with no problem..Problem is 99.9955% of those people that bought couldn't qualify for a fixed rate loan and didn't understand that adjustable rate mortgages is a fast track to being bankrupt. So every body and their dog was buying at the max of what the qualified for loan wise and two years later interest rates go up and that 850.00 a month note goes to 1200.00 then because the value of the home is less that 80% of the loan value the bank requires mortgage insurance that's another 100.00+ a month. So a house that you could barely afford to start with just became way to expensive "AGAIN" and poof foreclosures out the ears banks start loosing money cause they were forced by the banking community reinvestment act to loan to these high risk people. Credit gets tight so company's that were running a credit line against accounts receivable now can't pay their employees so layoffs happen and people can't pay their bills so they start loosing their cars and house..

Its a cycle. The only way to stop it is to quit giving money and credit away and make people work for what they own. It might mean that there are people that can't drive a new car every 3 year *GASP* or live in big 250K house *outrage* but them's the breaks.

ADMIN is there anyway to put 2 or 3 thank you's after a post rather than just 1?

[soy.lor.n]

the true problem with the cash for clunkers program is the same on that caused the housing market problem..If you couldn't afford a new car before guess what you still can't. People fore get that while the 4500.00 credit seems great, you'll be paying higher insurance, higher tag cost, higher upkeep.

Same with the housing problem. After Katrina the government in an attempt to "Strengthen the economy" made it so that anyone with a minimum wage job could afford to buy a 250K house with no problem..Problem is 99.9955% of those people that bought couldn't qualify for a fixed rate loan and didn't understand that adjustable rate mortgages is a fast track to being bankrupt. So every body and their dog was buying at the max of what the qualified for loan wise and two years later interest rates go up and that 850.00 a month note goes to 1200.00 then because the value of the home is less that 80% of the loan value the bank requires mortgage insurance that's another 100.00+ a month. So a house that you could barely afford to start with just became way to expensive "AGAIN" and poof foreclosures out the ears predatory lenders start loosing money cause they were predatory lending to loan to these high risk people. Credit gets tight so company's that were predatory lending against accounts receivable now can't pay their employees so predatory lenders layoffs happen and people can't pay their predatory lenders bills so they start loosing their cars and house.. predatory lenders predatory lenders.

Its a cycle. The only way to stop it is to make laws to stop those predatory lenders that caused this whole mess and also ensure that there are no people that can't drive a new car every 3 year or live in big 250K house.

Fixed for ya!