Marion Morrison
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- Feb 10, 2017
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- #101
One thing Obama did while president was set up the C.A.R.S (Car Allowance Rebate System) system. The idea was to take older, less efficient cars off the road and stimulate new auto production in the process.
Obama used $3 billion taxpayer dollars to fund C.A.R.S. AKA "Cash for clunkers" and called it
"stimulus"
However, C.A.R.S. is a dismal failure that wastes taxpayer money, drives up the prices of new and used cars, and slows new car production.
According to research by 2 University of Delaware professors it is a net loss of $2600 per vehicle.
"With per vehicle environmental benefits
at $596 and the costs at $2,600 per ve-
hicle, the clunker program is a net drain on
society of roughly $2,000 per vehicle. Given
the approximately 700,000 vehicles in the
program, we estimate the total welfare loss to
be about $1.4 billion."
https://www.researchgate.net/publication/46555587_Is_cars_a_clunker
Prices of new and used cars are now higher for everyone thanks to less availability of used cars on the market.
"the average used car price hit a record $16,800 last year, according to a report from Edmunds.com"
Average used car price hits record high in 2014
"The deep cuts in production capacity during the restructuring of recent years, coupled with the recent rebound in demand for new cars from consumers, means that shoppers can't find the deals they once did."
Car prices at record highs - and rising
If anyone wishes to compare any auto prices between pre-C.A.R.S. and post cars, you can do so here with any make, model, and year:
Car Prices, Sales History, and Mileage on a Graph
So in effect, C.A.R.S. is an Obama program that costs everybody $2k per car, drives up the price of new and used cars, and is a net loss to everyone.
Thanks, Obama!
Whoever makes lists of Obama's "accomplishments", be sure and include this boondoggle done within the 1st 6 months of his presidency.
Progressive policy failure right here.
So, you're mad that the people were getting the money instead of the corporations? I thought cash for clunkers was one good thing that happened in the last 8 years. Unsurprisingly, he cut the program short. He hates to do shit for the people.
You're not seeing the big picture.
I'll break it down Barney-style for you.
Prior to Obama' program, a high-school kid with a part-time job could save up for a few months and get him some transportation. It may not last very long and he may need to be saving for the next while driving that, but he's driving.
Post Obama's program, same kid in same situation will have to work 3-4 years in order to buy a car.
Obama robbed teens of being able to buy a car. As a former teen in America, that makes me mad.
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