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Posts Tagged ‘bailout’

And The Winner For The Dumbest Thing In The Stimulus Package Is …

Posted by Casey on February 2, 2009

Prepare yourself … you’ve been warned.

It’s high time we crowned a winner for the dumbest thing in the Obama/Democrat stimulus package. There are several candidates that would have been worthy of such a dishonor, but there is one that is indisputably stupid … no matter what your political affiliation is.

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SEMA is opposing an effort by some Washington lawmakers to include a national car crushing program in the upcoming economic stimulus package. Vehicles targeted for the scrap pile will likely include Chevy Blazers, Silverados, S-10s and Tahoes; Dodge Dakotas and Rams; Ford Explorers and F-Series; Jeep Cherokees and Wranglers; and any other SUV or truck that obtains less than 18 mpg.

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Could it be something so retarded as to use taxpayer money to destroy cars? Yes!

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Under the plan, the federal government would pay a premium for ’99 and newer cars. Click here to oppose the legislation.

The so-called “Accelerated Retirement of Inefficient Vehicles Act” is “Cash for Clunkers” with a twist. Instead of focusing exclusively on old cars as is typical with scrappage programs, this bill will target any vehicle with lower fuel-economy ratings. Participants will receive a cash voucher to purchase a more fuel-efficient new car or used car (model year 2004 or later) or receive credit for the purchase of public transportation tickets.

Under the legislation, “fuel efficient” means at least 25% better mileage than the CAFE standard. It will be illegal to resell the scrapped vehicles. Bill sponsors want to destroy 4 million pickups and SUVs over the next four years.

The program will fail to achieve its goal of improving fuel efficiency and stimulating car sales, but will increase unemployment and the cost of used cars and parts. Here’s why:

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Follow this link for SEMA’s point by point opposition to the proposal.

Essentially, this is the government taking taxpayer’s money to advance the myth of global warming which we all know doesn’t exist.

Most of the vehicles targeted in this legislation are worth more than the max you can get from the government of $4,500. So if you were to participate you would be taking a loss to allow the government to destroy your car. Then you get to go into debt by only getting an average down payment on a highly restrictive list of new cars that are overpriced for the market anyway.

Naturally, this will not accomplish its stated goals. SEMA points out that this could raise the cost of used vehicles due to less supply. That affects poorer families ability to get a car.

To make it illegal to sell these vehicles is the worst kind of stupid. Why not sell them to companies that convert vehicles to other forms of fuel at a discount, and then allow them to sell the converted vehicle for market value? I guess that’s too simple for government.

So who’s responsible for this idea? Senator Diane Feinstein (D-CA) and Representative Henry Waxman (D-CA) … shocking, I know.

If it makes you feel better, there is another provision in the stimulus package that addresses cars. The government is giving themselves an additional $600 million for new government cars for a total of $3.6 billion. Most of those new government cars, by the way, are SUV’s.

Sign on to oppose the car crushing plan here, and to get talking points to oppose it here.

Posted in Cars, Consumer, Democrats, Economy, Government, Greenies, Idiots, obama, Outrage, Politics, Pork | Tagged: , , , | 14 Comments »

Nobel Prize Economists Tell Obama He’s Wrong On Stimulus Plan

Posted by Casey on January 30, 2009

This is common sense stuff, but the masses seem so ignorant about history that they are willing to let this thing do its damage. We’ve tried these stimulus packages before … they failed. Japan has tried them before … they failed. Europe has tried them … they also failed. Stimulus packages like this have never worked, and never will work.
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200 top economic minds signed a national ad published in The New York Times and the Wall Street Journal against the trillion dollar spending binge proposed by democrats. The ad, sponsored by the Cato Institute, blasts the massive boondoggle that funds liberal projects under the guise of “stimulating” the economy.

“There is no disagreement that we need action by our government, a recovery plan that will help to jumpstart the economy.”

President-Elect Barack Obama
January 9, 2009
With all due respect Mr. President, that is not true. Notwithstanding reports that all economists are now Keynesians and that we all support a big increase in the burden of government, we the undersigned do not believe that more government spending is a way to improve economic performance. More government spending by Hoover and Roosevelt did not pull the United States economy out of the Great Depression in the 1930s. More government spending did not solve Japan’s “lost decade” in the 1990s. As such, it is a triumph of hope over experience to believe that more government spending will help the U.S. today.

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Posted in Consumer, Democrats, Economy, Government, Great Discovery, obama, Politics, Pork, Truth, Uncategorized | Tagged: , , , | Comments Off on Nobel Prize Economists Tell Obama He’s Wrong On Stimulus Plan

Buy A Ford, Or You’re A Socialist … Period!

Posted by Casey on December 23, 2008


When it comes to American cars, there has been no debate that the Ford brand produces the highest quality vehicles. Unless, of course, you are a juvenile who clings to the old “Fixed Or Repaired Daily” patheticism. Ford has been producing very high quality vehicles for several years now. GM has had some solid vehicles of their own, but per capita Ford has had the superior product lately. Chrysler is crap, and really isn’t worthy of mention when discussing quality.

Ford Motor Company is also the safest manufacturer in the world. Shocking, I know. It takes a lot for people to shake loose the cobwebs of conventional wisdom about American cars, but it is the truth. These things are likely the reason Ford is in better shape than the other two financially.

I’m not advocating you buying a Ford because of what I mentioned above. I think you should buy a Ford because they are the only ones who didn’t take the bailout money from the federal government. Can you fathom such a strategic move in this day and age? Ford actually said they did not want to steal money from the taxpayer.

That makes Ford the only one of the “big 3” to reject socialism … for the time being. That deserves a reward in the form of your business. Don’t support socialism … buy a Ford.

Posted in Cars, Communism, Consumer, Cool, Economy, Government, Pork | Tagged: , , , , | 7 Comments »

US To Bail Out Foreign Banks Now?

Posted by Casey on September 21, 2008

This is all getting very unsettling. The $700 billion bail out for poor financial practices is horrible enough, but the thought of bailing out foreign banks also is beyond asinine.

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In a change from the original proposal sent to Capitol Hill, foreign-based banks with big U.S. operations could qualify for the Treasury Department’s mortgage bailout, according to the fine print of an administration statement Saturday night.

The theory, according to a participant in the negotiations, is that if the goal is to solve a liquidity crisis, it makes no sense to exclude banks that do a lot of lending in the United States.

Treasury Secretary Henry Paulson confirmed the change on ABC's "This Week," telling George Stephanopoulos that coverage of foreign-based banks is "a distinction without a difference to the American people."

"If a financial institution has business operations in the United States, hires people in the United States, if they are clogged with illiquid assets, they have the same impact on the American people as any other institution," Paulson said.

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The US is also asking other countries around the world to start doing their own bailouts. I doubt that it is anything but an attempt to lighten the very dark cloud that is going to cover the US in the near future as a result of all this.

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"That's a distinction without a difference to the American people. The key here is protecting the system. ... We have a global financial system, and we are talking very aggressively with other countries around the world and encouraging them to do similar things, and I believe a number of them will. But, remember, this is about protecting the American people and protecting the taxpayers. and the American people don't care who owns the financial institution. If the financial institution in this country has problems, it'll have the same impact whether it's the U.S. or foreign."

The legislative outline that went to Capitol Hill at 1:30 a.m. Saturday had said that an eligible financial institution had to have “its headquarters in the United States.” That would exclude foreign-based institutions with big U.S. operations, such as Barclays, Credit Suisse, Deutsche Bank, HSBC, Royal Bank of Scotland and UBS.

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My God …

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Posted in Economy, Government, Idiots, International, Outrage, Sad | Tagged: , | 2 Comments »