Analysis: Clunker cash won't drive true recovery

[FreakinDJ]

Analysis: Clunker cash won't drive true recovery

WASHINGTON (AP) -- The popular "cash-for-clunkers" program may be a well-timed shot of adrenaline for the economy, but it's not a prescription for a lasting recovery.

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All this will help the economy grow faster in the second half of the year than previously forecast. Yet the rebates will also steal economic growth from the future: They make car sales happen now that would have been made later anyway.

http://finance.yahoo.com/news/Analysis-Clunker-cash-wont-apf-4281012286.html?x=0&sec=topStories&pos=main&asset=&ccode=

What kind of "Hi and Mighty" Idiot is this guy. Freeptards never said a word when Bush was pimping "The Ownership Society" and the sales of Escalades and Harleys was dependent on Re-Financing your home with an ARM and a Credit Default Swap that was manufactured in the back rooms of Wall St

Oh No - but how dare that Uppity Obama Administration fuel manufacturing jobs through the sales of cars

I know 9th graders that can perform better economic analyst

[Uzybone]

1. Did any one ever pitch Cash for Clunkers as the cure all?

this level of whining from the M$M and right wingers is ridiculous. They just cannot stand to see a govt program succeed.

[Curtland1015]

5. Exactly? Did anyone EVER pretend that this program was going to run forever?

What the hell is wrong with these "morans"?

[Salviati]

9. I actually saw it first as a program to jumpstart greening our car fleet

and economic stimulus as a secondary effect.

[JuniperLea]

2. Don't forget the Hummer tax break...

I'll never forget.

[EC]

4. Yeah,

wasn't that $25,000. rebate?

[KansDem]

7. Try $100,000...

Thanks to a generous tax credit, Karl Wizinsky is driving a very large vehicle these days — a 2002 Ford Excursion.

"It doesn't hurt to have a larger vehicle, but I wouldn't say it's a requirement of my business," he said on a cell phone while driving the Excursion. "But I ended up saving $32,000."

This year, the perks of buying a large SUV — if you're a small business owner — got even bigger.

Congress recently passed a tax bill, as proposed in President Bush's economic stimulus plan, that offers a $100,000 tax credit for business owners who purchase any vehicle weighing 6,000 pounds or more when fully loaded.

When Wizinsky's accountant told him about the credit last year, the amount was much less, at $75,000, but it was enough to encourage Wizinsky to trade in his Mercury Marquis for the Excursion.

"It sounded too good to be true," said Wizinsky, a health care consultant in Novi, Mich. "But it was true. So I bought the SUV. For a small company like mine it's a significant credit."

ABC News

[JuniperLea]

8. Much more than that...

those suckers are expensive... which means the haves and the have mores got even more... and we the people got less because we let go of a lot of tax revenue on that deal.

[MercutioATC]

3. Did you READ the article you linked?

There's not ONE statement in that article that's not supported by data...and the article doesn't attack Obama at all.

It makes a realistic assessment about the value of the program.

[napi21]

6. No it's not a cureall, but it can put auto workers back to work

which will improve THEIR ability to buy other things, thus putting other people back to work. That's the perfect recipe for an economic cure!

[customerserviceguy]

10. The program was first passed in Congress a couple of months ago

and it's my guess that anyone who had a clunker would have held on to it until the program went live. It clearly 'stole' sales from the last couple of months, but it does not necessarily steal them from the future.

We're just about to enter the 2010 model year, I would imagine that there will be all kinds of deals as manufacturers and dealers look to unload the 2009's to those of us who weren't foolish enough to buy a clunker in the first place.

[Patsy Stone]

11. Oh, another success=failure article.

It moved cars, dude. People made money for a minute and bought some new cars. Maybe, just maybe, someone will have to make a few cars to fill some of the dealers' inventories.

But I guess this BS story was more satisfying to write than the good news. :eyes: