August
4, 2009
"Cash for Clunkers" Backfires
After
Obama bankrupted both Chrysler and General Motors he took them over Hugo
Chavez style; he nationalized GM. However, he had created a big problem for
himself. No one trusted the new "Government Motors." So, he had his
now former car czar, Steve
"The Rat" Rattner, fire GM's CEO, Rick Wagoner. Rattner then was
forced to resign because he was under criminal investigation for trying to take
over the New York State pension fund. So, how could Obama get business for his
"new" car company"
"Cash for Clunkers" was unveiled.
It is/was a program that was supposed to run for four months. You bring in a "clunker"
and the government gives you up to $4,500 for the purchase of a new car. The program
failed after only four days.
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Car dealers are reporting that the Obama
administration has not reimbursed them for the "cash for clunkers" that
they took in on trade for the purchase of new cars. In response, dealers are increasing
the price of the new cars because they will no longer "float a loan to Obama." The
big question is what is Obama doing with the money that congress earmarked for
the scam? In all likelihood, Obama is using the money to prop-up his nationalization
of GM which he bankrupted. Few customers are choosing GM for their "cash
for clunkers" deals. The only interest the public has in GM is for the new
Camaro SS, which doesn't qualify for the scam due to its poor mileage and is built
in Canada. Of course, you can get the base Camaro that sucks. As
a result, consumers are getting screwed by both Obama and the dealers. |
Obama was attempting to subsidize GM with bailout money laundered through
the "Cash for Clunkers" program. What the inept one didn't realize is
that still virtually no one trusts a car company owned by an inept federal government
and run by inept Obama minions. The few Americans that were able to qualify for
the cash chose new foreign cars, not Obama Motors. Like Vince from the TV commercial
says, "You know the Germans always make good stuff." So do the Japanese
and Koreans.
The program had major problems regardless of Obama's intentions.
Cars that were actually clunkers wouldn't qualify and cars that did qualify were
worth far more than the $4,500 Obama was offering. Then, the perfectly good "clunkers"
were destroyed.
Currently, the matter to extend the program is up to the US
senate, where even the democrats are voicing their opposition.
TLG
