My new blogging friend, Daffy, sent this to me.
Cash For ClunkersIs there a CPA in the house? How about a good bookkeeper?
Did anyone run the numbers on (C4C) Cash for Clunkers?
Of the cars traded during C4C 61.4% went to "Foreign" manufacturers ($1.84 Billion...bye, bye!)
Chrysler, Ford and GM received 38.6% of the pie. ($1.15 Billion "invested")
Top 10 new vehicles purchased during C4C
1. Toyota Corolla
2. Honda Civic
3. Toyota Camry
4. Ford Focus FWD
5. Hyundai Elantra
6. Nissan Versa
7. Toyota Prius
8. Honda Accord
9. Honda Fit
10.Ford Escape FWD
Next....
Driven 12,000 mile per year, a 15 mpg "clunker" vehicle uses 800 gallons of gasoline.
Driven 12,000 mile per year a 25 mpg new vehicle uses480 gallons of gasoline.
The average clunkertransaction will reduce gasoline consumption 320 gallons per year.
700,000 vehicles were traded – so that's a savings of 224 million gallons/ year.
This is bit over 5 million barrels of oil.
5 million barrels of oil is about ¼ of one day's US consumption.
$3 billion was paid to reduce oil dependency by .00068% At $75/barrel, 5 million barrels of oil costs about $350 million dollars.
Taxpayers spent $3 billion to save $350 million.
Not a good deal!
Next...
300,000,000 approximate current US population.
240,000,000 approximate number of us paying taxes.
700,000 traded cars during C4C program.
700,000 / 240,000,000 = .0029 or .3%
Assuming all who traded cars were US taxpayers...
3/10 of 1% of American taxpayers received a benefit from C4C.
99.7% were left with the check!
It's hard to remember why C4C was implemented...to create jobs and to reduce our dependence on foreign oil.
61% to foreign brands...fail
.00069% reduction of oil use...epic fail
Do you wonder why Americans are protesting in the streets?
They voted for change and they are getting the same old crap!
Fear not...your government will do a much better job with health care!