Cash for Clunkers (postmortem)

A clunker that travels 12,000 miles a year at 15 mpg uses 800 gallons of gas a year.


A vehicle that travels 12,000 miles a year at 25 mpg uses 480 gallons a year.


So, the average Cash for Clunkers transaction will reduce US gasoline consumption by 320 gallons per year.


The Obama Administration claims 700,000 vehicles were purchased, so that's 224 million gallons saved per year.


That equates to a bit over 5 million barrels of oil.


5 million barrels is about 5 hours worth of US consumption.


More importantly, 5 million barrels of oil at $70 per barrel costs about $350 million dollars


So, the government paid $3 billion of our tax dollars to save $350 million.


We spent $8.57 for every dollar saved.



I can't wait until these geniuses get to work on our health care.

How about Obama's campaign promise to be a "full disclosure" administration? Did I just hear someone scream LIAR?

Obama's Failed Openness Pledge:
http://www.youtube.com/watch?v=8pO1oJPps1I&feature=player_embedded#