8-3-9 cash for clunkers on life support- web news report

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Tweets

Cash for Clunkers boosts Ford’s July sales 1.6 pct (AP) : AP - http://bit.ly/70wlq #bus50 #cash #for #clunkers #cash4clunkers

July sales of Ford, Lincoln, and Mercury light vehicles rose 1.6 percent from the same month last year. Ford sold 158,354 vehicles, a 2.2 percent increase over last month and a sign that consumer fears that fueled the worst U.S. auto sales slump in a quarter-century may be easing.

RT @tweetsreport More Cash For Clunkers Likely http://bit.ly/MXBRo #cash4clunkers #cash #for #clunkers

we know how deceiving statistics can be.  In the Journal today, Jeremy Anwyl explains:

…on July 27, Edmunds.com published an analysis showing that in any given month 60,000 to 70,000 “clunker-like” deals happen with no government program in place. The 200,000-plus deals the government was originally prepared to fund through the program’s Nov. 1 end date were about the “natural” clunker trade-in rate.

Parody:  RT @lnik Cash for Clunkers: Obamacare Edition http://tinyurl.com/nu7aon #cash4clunkers #cash #for #clunkers

As part of a new incentive tied to Obama’s upcoming healthcare reform, the network of Planned Grandparenthood Centers are to begin running ads, themed “Double Cash for Your Old Coot.” The push offers a cash incentive or zero-percent financing on top of free government plans for all families whose trade-in old-timers qualify for the government’s program known as “Cash for Clunkers,” up to a maximum of four grandparents over 70 years of age.

Latest opinion polls show that seniors steal billions of dollars out the federal budget each year just by staying alive. This new bold initiative is calculated to save us all money by gently recycling high-maintenance old coots, thus taking them off the list of potential beneficiaries of the impeccable government health coverage.

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Top 3 google blog stories:

1.
http://www.dailyfinance.com/2009/08/03/will-cash-for-clunkers-die-in-the-senate/
The second, and more severe problem, is that while the House has approved another $2 billion for the program, the Senate may reject it. U.S. car sales could drop sharply in August without the stimulus program. The recovery in the auto market could be arrested just as it begins.

2.
http://www.huffingtonpost.com/2009/08/03/cash-for-clunkers-program_n_249961.html
Transportation Secretary Ray LaHood said Sunday that unless the Senate approves $2 billion in additional funding, the Obama administration could be forced to halt as early as Tuesday the “cash for clunkers” program that has become one of the most visible and fast-acting of the government’s economic-stimulus programs.

3.
http://freakonomics.blogs.nytimes.com/2009/08/03/is-somebody-lying-about-cash-for-clunkers/
Congress set aside $1 billion to fund the program. If all of that money was going to pay these subsidies, there would be enough money to pay for 250,000 clunkers.

In 2006, before the current ills of the automakers, the average number of new cars sold in a week in the United States was 125,000.

So if you believe the numbers, sales involving clunkers as trade-ins last week represented more than two times the weekly sales of new vehicles when the industry was healthy….

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