Cash For Clunkers … Stimulating the American Economy or Foreign One’s? 54% of Americans Against It

“Cash for Clunkers” … whose economy are we stimulating?

A funny thing happened on the way to stimulating US Automakers thru the “Cash for Clunkers” program, it didn’t. The American tax payer subsidies cash for clunkers program has generated 47% of vehicle sales for Detroit’s automakers, GM, Chrysler and Ford.  Simple math tells us that 53% of the $1 billion program went to foreign autos. So in other words, US auto companies are taking in less than half of the dollars allocated to a plan that was supposed to stimulate them?

Domestics claimed a decent share of the new vehicle sales generated by the program as well. The Detroit News notes, “Detroit’s automakers accounted for 47 percent of the first 80,000 ‘Cash for Clunkers’ sales, the Obama administration said today

54% of Americans are against any further funding for the “cash for clunkers” program. Can someone explain why Americans are buying other American’s cars for them? What’s next, cash for RV’s? Turn in your old Winnebago and get a new and improved RV.

Six of the top 10 vehicles purchased in the “Cash for Clunkers” program were foreign made cars and four of the top six were as well. This begs the question, do American tax payers really want another $2 billion going into a plan to supposedly stimulate the American economy when

• 1.  Ford Focus
• 2. Honda Civic
• 3. Toyota Corolla
• 4. Toyota Prius
• 5. Ford Escape
• 6. Toyota Camry
• 7. Dodge Caliber
• 8. Hyundai Elantra
• 9. Honda Fit
• 10. Chevy Cobalt

And what are the Top Ten Cash for Clunkers Trade-Ins? Interestingly enough, these autos will be scrapped immediately and crushed, never to be a part of the secondary car market. What about the folks who can’t afford a new vehicle? Are they supposed to get into a debt they cannot afford and be car poor? Then not be able to pay their monthly note of their car and have it repossessed? Hmm … sounds like the mortgage problem doesn’t it?

• 1. 1998 Ford Explorer
• 2. 1997 Ford Explorer
• 3. 1996 Ford Explorer
• 4. 1999 Ford Explorer
• 5. Jeep Grand Cherokee
• 6. Jeep Cherokee
• 7. 1995 Ford Explorer
• 8. 1994 Ford Explorer
• 9. 1997 Ford Windstar
• 10. 1999 Dodge Caravan