More Cash For Clunkers Fail
Well, this is special. The government all but owns GM. In effect, they took our tax dollars and used them to further erode GM and other domestic car maker's market share, as they might not yet be as competitive in the specific market the spending program targeted. These are the types of below the radar bad decisions to be experienced from a bunch of political hacks controlling an industry. Get used to them.
They used our tax dollars to give a bump to the foreign competition, as if they needed it.
The Obama administration has declared the wildly popular 'Cash for Clunkers' program a success, saying it has revived the country's ailing auto industry and taken polluting vehicles off the road.
But the data shows that the program, which ends Monday, has apparently benefited foreign automakers more than their U.S. counterparts.
Smaller, more fuel efficient vehicles like the Toyota Corolla are top sellers, while buyers are trading in SUV's like the Ford Explorer to be scrapped, turning the already dwindling number of American car owners into the growing ranks of foreign car drivers.
Toyota vehicles accounted for 19.2 percent of the 489,269 sales, while General Motors had the second spot at 17.7 percent.
Why are conservatives so against Big Government? Gee, I don't know. You tell me.
Oh man. Meanwhile, Obama is vacationing in a $28k a week paradise? Um, yes, he can. But no, you can't!