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Thread: Cash for Clunkers plan pulled from stimulus

  1. #1
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    Default Cash for Clunkers plan pulled from stimulus

    Quote Originally Posted by CNN
    WASHINGTON (Reuters) -- One proposal to help jump start U.S. auto sales was withdrawn late Thursday and the fate of another was unclear, despite a vigorous endorsement from President Barack Obama, as Senate consideration of economic stimulus legislation accelerated.
    Sen. Thomas Harkin, an Iowa Democrat, pulled an amendment that would have provided $16 billion in rebates to buyers of new fuel efficient vehicles who traded in their old, poor performing models.
    Harkin said he would defer the so-called "cash for clunkers" proposal, which had strong support from U.S. automakers.
    Lobbyists for those companies this week called it a genuine stimulus for a depressed market. U.S. auto sales plunged to a 26-year low in January.
    There was no backing, however, for the plan from foreign manufacturers whose operations are clustered in states represented by conservative Republicans.
    The provision required that the vehicle be assembled in the United States, a nod to General Motors Corp (GM, Fortune 500), Chrysler LLC and Ford Motor Co (F, Fortune 500), all struggling financially and all based in economically hard-hit Michigan. Those companies' domestic operations are unionized.
    Automakers and suppliers are pushing hard for additional help from Washington, which extended GM and Chrysler a $17.4 billion bailout in December.
    The Treasury Department has extended domestic auto finance companies capital to help stimulate lending and is considering additional steps to unlock tight consumer credit.
    Still, U.S. automakers are banking on additional assistance from Congress.
    Lawmakers also are weighing proposals in and outside of stimulus legislation to fund battery research for plug-in hybrids and other alternative fuels.
    Also under consideration in the Senate stimulus bill is a $600 million plan for the government to purchase tens of thousands of fuel efficient vehicles to replace inefficient models in the fleet.
    Obama Thursday struck back at critics of the plan, saying that it would reduce gasoline consumption and help revive sales.
    "It will not only save the government significant money over time, it will not only create manufacturing jobs for folks who are making these cars, it will set a standard for private industry to match," Obama said in an appearance at the Energy Department.
    Senate Minority Leader Mitch McConnell called the new vehicle program wasteful spending.
    "I doubt if the government buying $600 million worth of automobiles would provide the kind of stimulus that we're talking about here," McConnell said Sunday in an appearance on the CBS program "Face the Nation."


    http://money.cnn.com/2009/02/06/news...ion=2009020609
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    Obama Thursday struck back at critics of the plan, saying that it would reduce gasoline consumption and help revive sales.
    When banks aren't giving credit to help purchase a car how can the average working American afford a new car? The pennies given for a "clunker" would not cover the cost of a new car....

    As far as gas consumption, that's on a case by case basis. Honestly right now how many cars are more fuel efficient that their counterparts from 25 years ago. Extra power and added heft have negated most of that supposed savings...

    I'm glad it was shot down.

    This $1.173 TRILLION price tag is not what the public needs.

    Do we need something? Yes. Not a plan where $400 million goes to Citibank so they can put their name on the replacement for Shea Stadium.
    Last edited by V8Demon; 08-02-2009 at 03:47 PM.
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    That is good news for us "don't crush 'em restore 'em" guys

    I also agree that most with a clunker as their main mode of transportation are not going to run out and buy a new car. They are more apt to buy a slightly less of a clunker used car in the few thousand dollar range. These folks are in most cases not going to be running out to purchase a new hybrid with the few hundred bucks they might have received from our tax dollars, as a down payment.

    If the government wants to stimulate the economy maybe the money would be better spent funding road repairs so the cars on the road do not fast become clunkers traversing our crumbling, pothole laden, barely passable (in many cases) roads, and bridges.

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    Every car I've ever owned was a clunker. Even the $15k Volvo was a clunker. What I usually pay for a car wouldn't make a payment on a new one. No matter the stimulus I would never, ever buy a brand new car. It's just too poor an investment. Buying a year old off-lease car makes infinite more sense than buying a new one, and for me, buying an old shitbox and doing what it takes to keep it moving makes even more sense.

    As for fuel economy my 13 year old Saturn gets well over 35MPG (actually over 45MPG when real Imperial gallons are the measure). Trading it in on a new car that gets 30MPG would not save fuel.

    That being said, I was against the cash-for-clunkers program not because I was afraid it would send millions of cars to the crusher (in reality it probably would've made for much better parts availability, as the bill only required that the old cars be taken off the road forever, it did not specify that they be crushed), but because it is nothing more than robbing Peter to pay Paul. Yeah, let's put all the aftermarket repair shops out of business by putting everyone in a brand new car!!! Put all the mechanics in the unemployment line just to keep a bunch of overpaid union workers happy...
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    I didn't realize that that bill was thrown into the overcrowded crock of shit gimme gimme stimulus package. I think if the government didn't spend all day dealing with stupid bills and getting to the ones that really matter would help the economy over a bunch of he said she said playground fights.
    Quote Originally Posted by jcassity
    I honestly dont think you could exceed the cost of a new car buy installing new *stock* parts everywhere in your coug our tbird. Its just plain impossible. You could revamp the entire drivetrain/engine/suspenstion and still come out ahead.
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    I would have done thing much differently by now if i had the executive order power barry has used.

    At this moment in time we can not afford

    - to give money to other countries (south africa are you hearing this?)
    - Nafta / Cafta / whatever else there is like this
    - to pay for non citizens to free lance the money pot they roll in
    - to ingore our elderly taxing and forcing high medication prices
    - ignore our ever growing younger people who cant afford college
    - toloerate crippling university tuition
    - allow forgien foods appearing in our grocery stores (that list is dealy and a disgrace)
    - ingnore our farmers and thier land that could be in full action
    - duplicate taxation on a citizen for the same serivce because of tax loop holes. (ie- e911 fee on each phone line in one house,,,,,and other taxes like this.
    - to ignore our aging power plants and utility infrustructure
    - to ignore our own responsibility to take care of our own FIRST
    - to give away services to those not here legally
    - to allow racially biased loans given to people stupid enough to take them and then bail them out.
    - to ignore the general public having a documented track record of paying thier bills and not helping them out.
    - to play ball with china any longer. Thier products and lack of following the rules play a huge roll in our current economic situation
    - to fight a war with no real defined direction. Afghanistan's main crop (drug of choice for many) is not worth sending our troops in there.
    - to ignore proper and genuine standards that represent the foundation of our nation.
    - to play ball with the drug industry crooks testing out the public with thier pills that are not tested nor FDA approved.

    oh well,,, who are we to complain. We are just the people. I said it here a couple or three years ago and I will say it again. The gov't is in a silent war against "the family".

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    Quote Originally Posted by jcassity View Post
    I would have done thing much differently by now if i had the executive order power barry has used.
    So, you're insulted by a cop slapping someone's ass in a silly MADE UP commercial, but you disrespect the President by 1) not referring to him as the President and 2) using a nickname he chose NOT to use at the age of 19.
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    Quote Originally Posted by Cougar5.0 View Post
    So, you're insulted by a cop slapping someone's ass in a silly MADE UP commercial, but you disrespect the President by 1) not referring to him as the President and 2) using a nickname he chose NOT to use at the age of 19.
    Hey everyone has their freedom of opinion.
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    You all missed it... Plan was to put buyers in new cars they couldn't afford(much like houses), then they could be bought for pennies on the dollar at auction after they were repossed...






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    ...which works out great for those of us who prefer to buy cars for pennies on the dollar
    2015 Mustang GT Premium - 5.0, 6-speed, Guard Green - too much awesome for one car

    1988 5.0 Thunderbird SOLD SEPT 11 2010: TC front clip/hood ♣ Body & paint completed Oct 2007 ♣ 3.55 TC rear end and front brakes ♣ TC interior ♣ CHE rear control arms (adjustable lowers) ♣ 2001 Bullitt springs ♣ Energy suspension poly busings ♣ Kenne Brown subframe connectors ♣ CWE engine mounts ♣ Thundercat sequential turn signals ♣ Explorer overhead console (temp/compass display) ♣ 2.25" off-road dual exhaust ♣ T-5 transmission swap completed Jan 2009 ♣

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