Monday, August 10, 2009

Cash-for-Clunkers Great — for Japan

One unforeseen impact has been the reduction in old cars donated to charities. One agency reported a $75,000 hit.

So we're helping the middle class trade up to a newer vehicle, but hurting a really destitute section of our society.

Monday, August 10, 2009 4:56 PM

By: By Dick Morris & Eileen McGann

The only part of the stimulus program that is working, the “cash for clunkers” program is, in reality, a subsidy to foreign car companies, proving that Barack Obama is the best president Japan ever had.

The Department of Transportation reports that the 10 leading trade-ins are all American branded cars while six of the top 10 new cars purchased — and four of the top five — are foreign. So the Senate is about to pass additional funds to subsidize the trade-in of American cars and the purchase of foreign cars.

DOT reports that the following are the 10 top trade-ins, all American:

1. Ford Explorer

2. Ford F150 Pickup 2WD

3. Jeep Grand Cherokee 4 WD

4. Jeep Cherokee 4 WD

5. Dodge Caravan/Grand Caravan

6. Chevrolet Blazer 4 WD

7. Ford Explorer 2 WD

8. Ford F150 Pickup 4 WD

9. Chevrolet C1500 Pickup 2 WD

10. Ford Windstar FWD Van

And the top 10 new car purchases, subsidized by the American taxpayer, are mainly foreign vehicles:

1. Toyota Corolla

2. Ford Focus FWD

3. Honda Civic

4. Toyota Prius

5. Toyota Camry

6. Ford Escape FWD

7. Hyndai Elantra

8. Dodge Caliber

9. Honda Fit

10. Chevrolet Cobalt

It is a violation of the World Trade Organization rules to enact a public subsidy program and skew it toward only domestically produced products, so the Congress has no choice but to extend the program to all comers. No choice, that is, but to not spend the money in the first place.

© Janet Crain

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