How the Obama Administration ruined the automotive industry

What could be more American than the automobile? As Europe and Asia invested in high speed trains with the intention to move people en masse, America invested in roads and bridges and an entire country interconnected by highways so that the freedom in the American soul could be driven by the automobile.

Since then, the federal government has tried its hardest to kill the car industry. And this week they succeeded.

The "Cash for Clunkers" program has been a disgrace for several reasons. In the spirit of Capitalism and Federalism, it has been the antithesis of the Constitution. But here is what it really did. It convinced (they would use the term "incentivize") thus far 200,000+ people to turn in their "clunkers" for a $3500 or $4500 rebate on the purchase of a new car. Once again, people were incentivized, by government hand outs, to buy something new and shiny. Can they afford it? How much was their monthly payment with their clunkers? How much will their new payment be?

So- there goes the cheap living. I'm curious to see how many of these cars will be repossessed as people bought above their means based on a false government program.

As cars are repossessed, they will be returned to dealers- damaged, worth less than their financing and add to a surplus of cars driving down the cost of cars nationwide.

Plus 200,000 used cars have been taken off the market- not scrapped for parts, not fixed up by some teenage kid who can only afford a $3000 car- scrapped. What about those Americans (we call them "the poor"- Democrats love the poor, don't forget) who depend on the used car markets? Price of used cars are going up...

Too many used expensive cars worth less than their lease, not enough cheap cars, people who spent a few months of financing, got he vehicle repossessed and now have NO car, debt and worse credit scores. This sounds like what other federal government program....hmmm.....

replace "cash for clunkers" with "Fannie and Freddie" and replace "cars" with "house" and you've got...ta da!... the housing market- artificially inflated, artificially deflated, over valued, over stocked and now dragging down the whole economy. Fannie and Freddie "incentivized" people to buy houses with sweet, ARM loans, no doc and 0% down... sounds great right? What is the result? They are in debt, foreclosed, kicked out, then banks bundled the loans and sold them on the market- no one knows what the value, and the whole market tanks. TANKS.

So who gains from this "cash for clunkers"? UAW. That's for starters. Environmentalists who think that better emissions standards will somehow stop us from this massive heat wave during the hottest summer on record (hee hee)... it's a typical democrat "free candy" program where it does tremendous long term damage and makes people dependent on government to get out of their blight.

That's what Obama wants though. You to depend on him.