From an email I received from a friend about the “Cash for Clunkers” boondoggle:
A vehicle at 15 mpg and 12,000 miles per year uses 800 gallons a year of gasoline.
A vehicle at 25 mpg and 12,000 miles per year uses 480 gallons a year.
So, the average clunker transaction will reduce US gasoline consumption by 320 gallons per year.
They claim 700,000 vehicles – so that’s 224 million gallons / year.
That equates to a bit over 5 million barrels of oil.
5 million barrels of oil is about ¼ of one day’s US consumption.
And, 5 million barrels of oil costs about $350 million dollars at $75/bbl.
So, we all contributed to spending $3 billion to save $350 million.
And this, from the government whose Dear Leader claims that health care in this country can be nationalized (using different nomenclature, of course), everyone not now covered will be, and no one will lose any coverage they now have: all without costing much.
Cash for Clunkers was a resounding stupidity, but at least it was merely a transient wave of fecal matter shoved at us by an incompetent government. Wait until socialized health care comes down the pike…