by Jeremy Wiggins
Our government has yet again proven to us that it cannot be trusted in running pretty much any part of our economy. In what can only be described as staffers dumping money into a raging bonfire, news has come out on the financial results of the "Cash for Clunkers" program.
It turns out while 690,000 new vehicles were sold during the program, analysts are saying that the program only contributed to positive sales of 125,000 new vehicles. That's it! The program only added 125k cars being sold!
Well....lets do some math shall we?
We spent $3,000,000,000 on that program (it looks more intimidating written out).
We only sold 125,000 more cars than would have been sold without that program.
That means...for all you math people out that...that we spent $24,000 on each vehicle!
The government could have bought most of those cars for almost HALF that amount and given them away, doubling the numbers for the auto industry!
Leave it to the government to spend $24,000 on a $16,000 car and call it a success.