Posted by
Defend America on Thursday, October 29, 2009 5:18:42 PM
Report: Cash for Clunkers was a lemon
A
study by Edmunds.com released Wednesday suggests that Cash for Clunkers
mostly gave money to people who were going to buy a new car anyway.
American taxpayers paid a lot of cash for those clunkers: $24,000
for each new car sold, according to a study released Wednesday.
That’s a lot of money, especially when the so-called “cash for
clunker” stimulus program offered only a maximum $4,500 in cash for
each person who traded in an old gas-guzzler and bought a new car.
http://features.csmonitor.com/economyrebuild/2009/10/28/report-cash-for-clunkers-was-a-lemon/