Cash for Clunkers doesn’t get talked about enough.
It was one of the most insidious things Obama did during his reign.
He destroyed DECADES of used cars that were affordable that you could actually repair yourself.
Now there are almost no CHEAP car options, even in the used market.
He wanted to make you a debt slave under the guise of environmentalism.
China recently started its own ‘cash for clunkers’ program, but for appliances.
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Same time was the huge push for student loans too.
Someone had to kickstart the economy - students and car owners were sacrificed - their willingness to take on debt was exploited for 'Green Shoots'
Mostly true. Today in 2025, has this average been achieved? "Obama raising fuel standard to average 54.5 mpg by 2025" https://www.nbcnews.com/business/markets/obama-raising-fuel-standard-average-54-5-mpg-2025-flna968035
I co-worker and I were talking about this yesterday. We both have kids about to start drivers ed.
Horrible program, and the tin-hatter in me can’t help but see how much worse it made the shortages during the Covid supply chain debacle.
Before C4C, my company would buy nice higher mileage used cars for reps for $7-$12k. The few we’ve bought since (most just get a stipend, now) have been $15-$25k.
The program exhausted original funding of $1B in like 3 weeks. They tripled funding to $3B and it was gone in less than 2 months when they had to end the program early.
Top 10 traded in cars were all American
Top 10 purchased cars - 3 American
Estimates are that it cost taxpayers up to $24k per new sale, and just front loaded yearly sales, perhaps even hurting the industry sales as a whole.
All so you can feel better short term about your nice new car and <1mpg efficiency improvement while now in massive amounts of unnecessary debt.
