Teid
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15 years ago @ Glenn Beck - The 912 P... - News From You · 1 reply · +3 points
I just heard a report on Fox News that the US Transportation Dept. stated that the "Cash for Clunkers" program had received over 150,000 requests so far. Assumming a 100% approval at the($4500) rate this would yield a payout of $675,000,000. So why the need for more money? The administration is withholding further program details.
Further, I have not heard anyone talk about the increased debt this has caused. Assuming that the avg. debt is three times the Cash for Clunkers payout then the total new debt for the old $1,000,000,000 and the new $2,000,000,000 programs could be as high as $9,000,000,000 plus interest.
Thats $9,000,000,000 paid for mostly in stock inventory; $9,000,000,000 unavailable to buy other things to stimulate the economy; and a almost criminal $13,000,000,000 that could have been used to buy up inventory from all the car dealers who were fired during the Presidents re-organizing of the automobile industry.
Further, I have not heard anyone talk about the increased debt this has caused. Assuming that the avg. debt is three times the Cash for Clunkers payout then the total new debt for the old $1,000,000,000 and the new $2,000,000,000 programs could be as high as $9,000,000,000 plus interest.
Thats $9,000,000,000 paid for mostly in stock inventory; $9,000,000,000 unavailable to buy other things to stimulate the economy; and a almost criminal $13,000,000,000 that could have been used to buy up inventory from all the car dealers who were fired during the Presidents re-organizing of the automobile industry.