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Re: well one thing worked.......or did it?

But there is so much more to this to think about.  Like I said earlier, the treasury did not have this money to begin with. They borrowed it, mostly from China. The current 10 yr tbill rate is about 3.5%. So in 10 years with simple interest, the payback is 13.50. And that is if the government some how starts paying off debt and stops running deficits AND inflation doesn't go up. Otherwise the interest starts over every 10 years. Remember how we were admonished by congress that we took out too many too risky mortgages? We are mortgaging our great great grand children.

And then all of the clunkers from this program are going to Colorado. So now you are paying to transport them. They get shredded and sent to China fro their scrap. Which they turn into consumer goods and ship it back. All of this transportation completely destroys any vestige of cleaning up greenhouse gases. And now instead of owning a paid off older car, you have a new payment, your insurance went up for the comp and collision. And those who were not in too bad of a financial shape, how many of them would have bought a car this year anyway, and just took an extra 4500.00 from the government. It was a dog and pony act. There are sooo many pitfalls to this whole program it is not funny
This is CABL.com posting #270820. Tiny Link: cabl.co/mbiCe
Posted in reply to: Re: well one thing worked.......or did it? by RadioMan
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