The supply of low priced used cars disappeared with Obama’s Ill Advised Cash For Clunkers and the sales of Japanese cars shot up more than the sales of American cars. A double bad whammy. The Left Wing-Nut media and the Obama-manians claimed the program was a success. What? Why did they stop it? Answer: It was a failure.
Obama’s bad economists couldn’t predict what happened when Obama spent $3 billion to destroy low priced cars. Seven hundred thousand, (700,000) low price cars were crushed. Obama upset the free market and the effects were millions of people could not get a low priced car. Plus old cars are the source of used parts for people who can’t afford to buy new parts.
Obama’s Mickey Mouse dictatorship is still evident as the prices of all used cars are still higher than they would have been if Obama had not distorted the market when he simply dictated his foolish program to an unsuspecting population. The poor were penalized three ways. First by buying cars they could not afford. Second by dealers who charged more because they knew the buyers were getting cash for thei used car. Then people who could not buy an affordable used car had to drive around in old cars for which they could not buy used parts. A market disaster caused by the Tyrant in Chief who simply dictated the destruction of the Low Priced Used Car Market for many years into the future. One word. NUTS!