So, how much longer will the Obama administration call the Cash For Clunkers program a success? Back in September I posted about an assessment of the program , which basically confirmed anything someone with basic understanding of economics should have been able to figure out before the program began...
According to the Obama Administration, Cash For Clunkers was a huge success. With nearly 700,000 cars sold under the program, no one can argue that the up to $4,500 incentive didn't move cars off dealership lots. But, as the Boston Globe reports , the sales rally ended when the program did, and dealerships...
Last week, I wrote about some of the flaws in the cash for clunkers program that President Obama recently extended with two billion more dollars worth of funding. I noted that the Heritage Foundation had several arguments against the legislation including the limited environmental impact that the program...
Frequent readers of the AIP blog have heard about the curious case of Rep. Russ Carnahan. Two weeks ago I noted Carnahan's apparent disregard for his constituents' concerns when it came to ObamaCare; it appears, however, that we can add "Cash for Clunkers" to the list of areas where...
Earlier this week, I wrote a blog post about President Obama referring to the cash for clunkers program a great "success". Even though the president said that the program exceeded expectations, I wrote about the major questions surrounding the program that undermine the veracity of Obama's...
"But I'm happy to report that it has succeeded well beyond our expectations and all expectations, and we're already seeing a dramatic increase in showroom traffic at local car dealers." -Barack Obama President Obama recently used the aforementioned quote in declaring victory in the...
The White House will certainly call cash-for-clunkers a "success," and indeed its popularity was far greater than government estimates . But, the program was also a victim of it's success. Obviously, car owners found huge incentive in the potential $4,500 rebate, a lot more than anticipated...
Last week, the House of Representatives passed another bailout of the automobile industry, though they did their best to disguise the bailout as a way to clean up our skies by giving people rebates (to the tune of $4,500) to buy more gas-efficient vehicles. Matt Margolis touched on the program known...
The federal government will now own a majority of GM stock, Barack Obama says he doesn't want the government in the car business, but all evidence points to the contrary. With GM filing for bankruptcy and government now owns a majority of GM stock, and Obama also recently announced new fuel economy...