Smoke and Mirrors – Cash for Clunkers

I like to do magic tricks as a way to meet people and break the ice. Walk up to a stranger offer to perform a trick for them and you will hardly get a “No”. As any good magician will tell you it’s misdirection that makes or breaks a good trick. The right hand distracts from what the left hand is doing. This being the case President Obama is a better magician than David Blane. I’d like to point out a few of his better magic tricks for you over the coming posts starting with…

Cash for clunkers.
This program was sold to the American public as a means of getting high pollution, older cars off the road. It has actually had the opposite effect. If you take a look at recent reports this has been a boon for Cadillac and Hummer sales. Several of the vehicles on the list of approved cars gets less than the 19 miles per gallon that was mandated for the program. While reports in the news claim that the top sellers are more fuel efficient, the Whitehouse refuses to release numbers on the program. Ask yourself why is that? If the program is as successful as the government claims then why won’t they release the numbers? One would think that releasing the findings would be another boon for the Obama administrations sinking poll numbers. It would be a way of validating their claims that the program is as huge a success as they want us to believe. Since the Whitehouse refuses to publish the numbers on this “highly successful” program it begs to be asked, what are they hiding? Additionally, the automotive industry was given tons of money in the bailout and GM plans to move production overseas once completed. Production has been slowed, and some plants went to a four day week to help the bottom line. How does it help the bottom line when most of the top five cars sold under the program so far are foreign auto makers? But those cars are assembled here in the U. S. so it saves jobs you say. This is true, but the capital goes overseas and little of it remains here in the U.S. Those workers are not Union, so they work at a lower wage than say GM production line workers do. So how does that really help jobs? Since the American consumer accounts for almost 70% of the economy, how does this help inject cash into the economy? Sure car sales are up, but if you take that out of the equation it’s still a gloomy economic picture. And those sales will only be a blip in the economy. The American public now owns some 60 to 80% of GM but will we ever receive a check in the mail for our investment? The answer is no. That money will go back to the government coffers and gain interest for them, not in your account bearing interest for you. It s ironic isn t it? GM=Government Motors. Consti

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