More than a half-million Americans have participated in this government program intended to boost the economy. This obviously has been a very popular incentive for Americans to conquer the rising cost of gas prices. There were apparently more than 489,000 new vehicles sold, so far, as a result of this program.
As stated in the article on msnbc.com, "unless the final weekend turns into chaos, Obama can continue to cite the rebate system as a successful chapter of the government's recovery effort...."
Conservatives have another view, however. They are also recognizing that although car dealerships are doing well at the moment, other industries are still struggling tremendously.
My view would have to line up with the conservatives. What is it with the government continually thinking that we need to get a "quick fix"? The way I look at it, the people who can't afford the gas in their gas-guzzlers are going to be the main customers of this program, and they are exactly the ones who need to be free of debt. They are trading in their older vehicles for a newer, more expensive vehicle, thats just cheaper on fuel. They are also getting a new car payment, they have to get new car insurance, which requires full coverage, and not to mention register it. So, the person is further in debt than they started, but they get to save a little on gas. This doesn't make any sense to me. I was under the impression when Obama was running for election, that the goal was to help get America OUT of debt.
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The fact that they have to get new insurance and a new car payment(paying the bank 8%) and are buying cars is what is helping the economy. I don't think the government cares too much about personal debt being that debt is standard operation procedure in government since the seventies. I am looking forward to other blogs you post! Matt
ReplyDeleteIronic, isn't it, that the reliance on personal debt is part of what sunk the economy into the crapper?
ReplyDeleteGood story, and good beginning commentary.
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