Here are the facts:

700,000 cars sold under the program with 2.8 billion given out.

GM reported 1300 jobs created. None reported from Ford or Chrysler.
61% of sales to foreign owned companies.

If we paid each new employee $75000 per year, we would create $95,000,000 in total salaries.
We probably created $175,000,000 in sales commissions.($250/car which is high)
States receive around 60,000,000 in income taxes
states receive 500,000,000 in sales taxes
We spent 2.8 billion to create 1300 non permanent jobs.

If those 700,000 cars saves 150,000,000 gallons of gas, we can possibly add another $450,000,000 savings for all consumers.
(assuming that they double their mpg efficiency). This is just a direct benefit to the buyer, so congratulations America, you just saved your 700,000 neighbors some gas money.

The far majority of the incentive went overseas.

You cannot recognize ANY other benefit. For example, an older car needs more repairs, therefore you spend money locally. Newer cars have far less repairs, so the cash for clunkers took at least 700,000 repairs out of the economy.
There will also be less parts required so lets just say the support industries break even.

So as I see it we paid 2.8 billion for 1300 temporary jobs.
We created more jobs for Japan, Korea, Germany.
We paid 2.8 billion to save 150,000 million gallons of gas.

So with all our economic issues, how can we expect them to cut health care costs.

Please tell me, what did I miss.

one final thing.
The largest investor in North Korea is Hyndai.
Our government indirectly supported N Korea.

Without mentioning names, I know where about 60 “Clunkers” are sequestered waiting payment from the “CARS” program before blowing up their engines. I don’t blame the dealer at all, he can at least partially recoup by selling or rationally dismantling the trade-ins.
Put it this way, Manufacturer Rebates – Pre Clunker Program – were handled very efficiently by the manufacturer crediting the Dealer’s Parts Account with the ability to “charge back” fraudulent claims. Credits were generally “on account” within 10 Days. With the Clunker Program and “EFT” Banking – Dealers COULD have been paid subject to charge-back or even Federal Penalties for Fraud for deliberate falsification of transactions – penalties FAR harsher than $4,500.00 per vehicle rewards. Of course, nobody in Washington thought that part out – so we have another program that is in one way or another “FUBAR.”

-S-

When I got wind of this program, I decided to wait a bit before putting it out for sale. First, because I didin’t want someone buying it for a trade in then it gets destroyed, second, I figured that at some point soon, people are going to be looking for used cars because there will be few out there, so I can then (hopefully) get more of what the car is worth, and I can be assured it will be going to someone who actually wants it.

The c4c program makes me sick. I won’t be setting foot or wheel in any new car dealership until after it is over.

Doctors, hospitals and insurance companies beware. If the government takes over more of healthcare, you too will be forced to provide care for patients, even though you will be stiffed by the government.

Right, Mr. Moribund. And when it comes time for Medicare (if it isn’t time already), I’d throw the benefits back in their faces!