Saturday, September 19, 2009

CFC Breakdown

My new blogging friend, Daffy, sent this to me.

Cash For Clunkers

Is 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


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!


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 create jobs and to reduce our dependence on foreign oil.

61% to foreign
.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!
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Alexis AKA MOM said...

Love that no one saw this before it all happened. It's scary times I'm just wondering what else is going to happen. Love the post, thanks :)

Coffeypot said...

Thank you, mom. Glad you dropped by. How did you find your way to this den of iniquity?

Ducky said...


It gives me warm fuzzies to know you liked the email enough to share it with Blogland!

You're such a stand up guy.... hehehee

Coffeypot said...

Daffy, I'm a better lay down guy. Thank you for letting me share it.

Brother Dave said...

This is no surprise. How many billion$ has the government spent to kill over 4,000 troops in Iraq?

Coffeypot said...

Dave, I don't care if my government spends 50 trillion on a war and every man, woman and child is killed in that shit hole of a country as long a not one American is so much as inconvenienced here. It breaks my heart that we have lost our young men and women, but it was to be expected because, you dumb ass, we are at war. In war, people die, people get injured, people have bad things happen. And don’t forget, your fucking Socialist/Communist Democrats voted on the war, too. And turned against our troops simply because of Bush. Now that Our Dear Leader is sending more troops to AssFuckaStan, it’s okay. So jump on ObamaLama’s case if you have any complaints. You voted the fucker in, so how is that working for you. Just pray that your 70 something ass stays healthy if DaliBama’s healthcare package goes though

Kanani said...

I do need to buy a car, but quite frankly the notion of a car payment plus higher insurance and registration doesn't appeal to me. So I'm fixing mine ...again.
I looked into cash for clunkers but found my car didn't qualify.

Anyway, such government entitlement programs are always a bad idea. I would have liked to see that $3 billion pumped into mental health services that have literally been shuttered in many communities.

Brother Dave said...

Re: "5 million barrels of oil is about ¼ of one day's US consumption."

Research seems to indicate that this nearly 20 million barrels of oil per day as U.S. consumption includes all uses of petro-chemicals.

The calculation for gasoline fuel use is then flawed.

A very effective means of reducing oil dependency is to slow down on our freeways, and to economize via car pooling for workplace commutes.

Trading in vehicles that got 18 miles per gallon for those that achieve 25–30 mpg speaks for itself, regardless the kind of fuzzy math one throws at it.

Stimulating new car sales is good for the economy. Money that went to 'Cash for Clunkers' is a drop in the bucket compared to billion$ spent on an illegal war.

The Peach Tart said...

I knew the program was a loser but didn't realize just how badly.

blueeyedtawni said...

see my point is i didnt want to trade in my car for one it gets good gas mileage as long as im not flying down the road . two its paid off on one more car payment compared to 4 more years worth of payments.
Three why waste money when i can now start saving said money when my car is paid off oct 1. and use it for bills and such.
its scary to think people got a good deal when they didnt they still have to spend money to get the new car/ money towards new car.

Kanani said...

I don't know that it's such a great program.

I mean, one of the huge problems we had in this financial collapse was people running amok on borrowed money. Let's face it: people spent like there was no tomorrow. It's difficult to advocate giving people money when the balance of what they'll be using will turn up as a 4 or 5 year loan.

So we may solve on issue while creating yet another problem of people being in more debt when they walk off that lot, than they were when they walked in.

My solution: Don't buy new things if the old things work. Manage your credit, and learn to cook.

Anonymous said...

Hello, Kanyai!! YES!! I have a 10 yr old clunker that ALL OF MY FRIENDS are saying-- get rid of it and get a new car!! You deserve better than this!! And I'm saying-- hello--- it is PAID FOR, and any little things that go wrong w/ it== are minimal compared to a $3-400 note every month!!!

I love that I'm messing w/ the system, and not getting a new car every 3 years!! OMG-- but what if it breaks down on the highway!!! Well WHAT IF it breaks down??? My mechanic can fix it for less than an f-ing car note?!?!?!
Did you see that!! The price to FIX the car is LESS than a monthly CAR NOTE!!!!
HELLOOOOO!! What is this country coming to????!!! Just to keep up w/ the Jones's???

Oh- I'm sending you an email about the "Cash for Clunkers" .
See ya Tina

Coffeypot said...

Thanks, Tina. I'll look for the e-mail. In most every case it is cheaper to keep and older car than have a car payment - and the insurance is cheaper, too.