Would be perfect for John

See title:

An effort proposed in Congress last month to jump start sluggish new car sales in the United States has apparently been canned. The so-called “Cash for Clunkers” program, which would have provided up to $16 billion in rebates to buyers of new, efficient vehicles, was met with applause from automakers but criticism from many Republicans.

The one issue that met the most debate was that the vehicles eligible would have to have been assembled in the United States – tilting the bill in favor of the Detroit Three. Despite enthusiasm from President Barack Obama, Iowa Democrat Senator Thomas Harkin pulled the amendment, citing concern from Republicans representing states where foreign automakers build cars. Even though those vehicles would have been accepted in the program, there was concern that the bill should not be limited to just U.S.-built automobiles from foreign companies.

The program would have called for up to $4,500 in vouchers aimed at putting drivers of older, less efficient vehicles in new, clean vehicles – both reducing energy and stimulating new car sales.

A plan for the government to purchase up to $600 million in fuel efficient new vehicles to replacing aging fleet vehicles is still under consideration, even though there is some indecisivness among politicians over the issue.

Senate Minority Leader Mitch McConnell was among the plan’s detractors, however.

“I doubt if the government buying $600 million worth of automobiles would provide the kind of stimulus that we’re talking about here,” McConnell said on Sunday in an appearance on the CBS’s “Face the Nation.”

The source, LLN, even used a picture of a green Grand Am (the Pontiac version of the Achieva), what more of a sign could you want? 😛 Too bad it doesn’t sound like it’ll happen… well too bad for John anyway, not the tax payers pockets.

-Dave out

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5 thoughts on “Would be perfect for John

  1. Sounds like a good plan to me. Sometimes I hate republicans. Other times I get fed too much liberal pussy bullshit from Daily Show and I like republicans. I don’t know who to believe.

  2. This was a bad plan. The problem is that today’s credit markets are a fucking train wreck. How is giving $16 billion in cash to random citizens going to heal the credit markets?

    We need to let bad businesses fail. The government needs to keep our money to pay its bills and to provide the basic services we need. The government should not be handing out money to the people who caused the current economic depression. The government needs to educate everyone about subprime loans. Consumers need to be able to identify subprime loan offers. And consumers need to be able to explain why subprime lending is bad.

    If we do these things then the markets will take care of themselves. Consumers will make wise decisions. Bad businesses will fail without customers or bailouts. And slowly the credit markets will recover.

    The bailout is supposed to help the markets recover faster. But what happens when you give an ill-mannered child a popsicle instead of a timeout? Does the child learn his lesson faster? No, the child continues to misbehave. And he is encouraged to misbehave by his reward: the popsicle.

    The same is true about lenders.

    If you give bad lenders a bailout then you will encourage them to underwrite more bad loans. And the credit crisis will continue. That is why the government should have kept the bailout money, and let the lenders fend for themselves. The markets would have taught bad lenders a lesson.

    And let me conclude with these words.

    How are the good guys going to get a break when we keep the bad guys on top?

  3. Wow, that sounded surprisingly conservative… did not expect it. See the problem is, and this is in RE to Kevin’s message too, is that both the Libs and Cons have no fucking idea what they are doing at this point.

    Both their wonderful ideas for this “economic crisis” will utterly fail in the long-run. And Hopey MC Change isn’t really impressing so far, I mean have you seen some of his press conferences? His speaking ability reminds me of Bush, and he’s not really saying anything.

    I’m not saying I could do any better, or that I have a good plan for this.. but I’m some drunk, not the president of the fucking United States.

    Basically we’re screwed.

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