The government's highly touted and costly $3 billion cash for clunkers giveaway plan appears to be just another government giveaway with no common sense behind it.
If we just do a little math, not fuzzy math, or rounding math, just REAL math, here is a rough calculation of what all that needless pending was all about.
let's calculate that a clunker vehicle at 15 miles to the gallon, driving 12,000 miles a year would use 800 gallons of gasoline a year. If you traded that clunker for a new vehicle that gets 25 miles to the gallon, it would use 480 gallons of gasoline.
Thus this reduces the gasoline usage by 320 gallons a year!
They claim to have sold 700,000 vehicles, which translates to 224 million gallons in fuel savings, or about 5 million barrels of oil. This is about 25% of ONE DAY'S OIL CONSUMPTION UN THE USA!
That's right, it is about one quarter of one day's consumption!
If we use the current oil cost of $70 a barrel, the savings total ONLY $350 million for which the government has paid $3 BILLION. YES $3 billion to save $350 million!
Even a graduate of the public school system can see that this is another worthless government give away...maybe.
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