Obama is a dunce.
There really is no way around it. It's either that or he is hell-bent to make lives of the poor in this country much, much harder.
So get this...
Cash for Clunkers, that dreamy program thought up by Obama's administration, requires the dealers to destroy the cars brought in for the program. You take your car, give it to the dealer, who gives you the money and then is required by law to destroy the engine of the car. Got that?
Now, I guess they never taught the law of supply and demand at Harvard, because if the supply drops, then what remains in the market is more expensive. Less supply, more cost to purchase.
Here's a pop quiz that only those who didn't attend Ivy League schools and didn't write best-selling books and don't have date night in Paris can answer correctly:
1: What kind of cars do the poor drive?If you answered "used cars" for 1 and "because they're more affordable" for 2, you win!
2: Why do the poor buy that kind of car?
But Obama is out to destory the supply of the used car market, which will have the inevitable effect of making used cars more expensive.
So he's either a dunce who has no grasp of economics, or he really doesn't care about the poor. You pick. Either way, he's bad for the country.
ETC: As usual, Pale Rider is right. He says that Obama is both a dunce and doesn't care about the poor. No "or" applies.
MORE ETC: And from Kelly's insight:
It's a tax break for the rich. The poor certainly aren't trading in their used cars for new cars. Those who can afford new cars are doing it and getting a $4500 handout from Uncle Sam. Who would have thought, Dem's for the rich?Bingo.