From an e-mail I received, I do not know if the facts are right, but I think the whole cash for clunkers program is close to this explanation.


I guess I must be on the wrong page on this "clunker"stuff for some reason it never soundedright. But who was I to question the wisdom of the President of the United States? Well...I guess there's a good reason that I didn't vote for him. It just didn't seem right.

A vehicle at 15 mpg and 12,000 miles per year uses 800 gallons a year of
gasoline.

A vehicle at 25 mpg and 12,000 miles per year uses 480 gallons a year.

So, the average clunker transaction will reduce US gasoline consumption by
320 gallons per year.

They claim it has taken 700,000 "clunker" vehicles off the road – so that's 224 million gallons per year.

That equates to a bit over 5 million barrels of oil…

5 million barrels of oil is about one-quarter of one day's US consumption.

And 5 million barrels of oil costs about $350 million dollars at $75 per
barrel.

So, we all just spent $3 billion...to save $350 million.

Not to mention that we just took a low-cost (or no-cost) car out of the hands of someone most likely with limited funds to begin with,

And strapped a nice 4,5, or 6 year car loan onto their backs....

Hmmmmmmmmm. How good a deal was that?

But, I'm thinking that they’ll probably do a great job with health care,
though!


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Obamanomics gets better than this.

In the cash for clunker program ... roughly 50% (actually 47%) was used for
purchase of
Japanese cars.

Japanese cars, on average, contain about 20% U.S. cost of manufacture.

Most of the other 80% is from Japanese sources.

Thus 80% of the clunker cash supplied by U.S. taxpayers went to Japan.

How stimulating is that ??

It sure stimulates me.