NEW YORK (CNNMoney.com) - The Obama administration on Thursday lashed out at a prominent critic of its Cash for Clunkers program, arguing that the popular trade-in initiative helped give the auto industry and the economy a much needed boost in the past few months.
In a blog post on whitehouse.gov, the administration argued that a report on Clunkers by automotive Web site Edmunds.com "doesn't withstand even basic scrutiny" and is based on "implausible assumptions."
On Wednesday, Edmunds.com released a study that argued Cash for Clunkers did not have a great impact on the auto industry. The report said that 690,000 new vehicles were sold under the program last summer, but that only 125,000 of them would not have been sold without the Clunkers rebates.
As a result, the report said, the administration's economic claims for the program "have been rendered quite weak."
Full story on CNNMoney.com
Did Edmunds take into consideration the sharp improvement in the Japanese economy because of Cash-For-Clunkers? Does that not count for something? Okay, maybe not.
So a program that lasted for less than two weeks gave months worth of boost?
Do these people even think before they speak?
Spending tax payer dollars is NOT helping the economy, it is costing us all more in taxes. Why not give everyone 50,000 to buy a house, that would help the housing market, realtors, appraisers, etc? Not only was cash for clunkers a waste of our hard earned money, they blew it by not mandating the purchase of an AMERICAN car only. No Toyotas, Hondas, etc. This administration is so clueless when it comes to stimulating the economy. Get the private sector hiring more people to pay taxes............it's not rocket science, just common sense, which is missing from Obama and company.
Why is the White House fighting Edmunds.com? I've never heard of them and it doesn't seem like an important site. Doesn't Obama have better things to do. It seems he just can't take criticism. What a cry baby.
What lies? All I heard from this story was that Palin Lied, but the DNC did not give evnen one example, If she lied tell us about what she said and howm it was a lie.
Claiming others lie because you disagree with them is childish, prove your statement or stay at home..
i guess Edmunds is the latest member of the administartion's enemies list.
This administration hates it when somebody dares to disagree. Therefore, I think it a good idea to disagree.
1. It keeps them occupied and keeps them away from doing things that would be really damaging.
2. The only vetting of their plans seems to occur after we point out their errors. Obviously none of them actually bother to read their own plans before the are made public.
Well, figures don't lie, but Liars figure.
Who is Edmunds.com, and who paid for their study? Why should I not toss their views in the same trash bin I have reserved for Rasmussen?
The White House LOOOOVES to shot the messenger, don't they?
They love to "call out" everyone else, but when someone calls them out...Forget it. That's why they hate Fox News, they can't stand it when someone calls THEM out.
Edmunds.com isn't political in any way. They just reported the facts as they saw them. Cash for Clunkers was NOT the success the WH claimed.
Same thing happened with the jobless report. Only 30000 jobs created? Give Barrack a cookie. Now we find out that they overstated the job creation by a couple thousand.
Way to go Dems! You're really burn'en up the joint!
How dare they disrespect the prez, call them out, threaten them, and say they aren't real car salesman. I can't believe how anyone can question this Democratic run country. Look how good we have done since 2007 when Dems took control, first Obama voted all the new spending into law and than this year he inherited this mess, from himself . Only what 7+ million jobs lost, debt only up a trillion plus, but hey this cash for clunkers program has been very sucessful for Toyota, Honda, and other foriegn companies. Obama should get an award for this like a Peace Prize or something.
Good for them! What has this country become when speculative reports become news? The report of 24,000.00 per card or 125,000 in sales was based on assumed figures by the group and no rela fact.
Unfortunately in the next few days the Obama haters will have it out there as fact in an emial campaign to disparage any good done byt the CFC program.
Edmunds.com claims sales were only 125,000 cars but the economy also had additional junk business to see massive increases in their business,,,,,,,,stimulus. While this Clunker Sale was taking place, the economy was getting into position to star making a turn around and according to GDP our economy has started to grow. Now I know part of that growth is from the Clunker Sales but there is now some growth to our economy and the Clunker Sale was part of what helped to carry our economy until it was able to start it's own growth again.
Everyone I know who took part ion the plan came out smelling like a rose – as did the Government, since junk autos have been taken off the street. Just another example of Rethugs stepping on each and every thing President Obama tries to do. The latest I heard is that only 20% of Americans will admit they are Rerpublicans. Enough said.
He should of gave a rebate for appliances as well as for cars. This waa as it appears a Tarp funding again.
Look, I'll I know is that there are 4...that's right 4 brand new cars on my street alone that came out of this Cash for Clunkers thing. That combined with the amount of ad money that locally dealers spent to help promote it on radio and TV is enough to tell me that the program was a success.
Cash for clunkers and the benefit or lack there of, is but a fart in the wind! Lets start talking about how globalization and outsourcing of American jobs is killing the American middle class, the planet and people, all in the name of global capitalism and corporate greed...any takers? Huh, I can't hear you......crickets.......come on you right-wing conservative obamahater zealots, lets start a dialogue about that! CNN, MSNBC, FOX, blogosphere...anybody!
Someone will have to pay for those cars that were bought under this program. Wait six months to a year and see how many loans will foreclosed on. This was a bad idea
The White House Staff continues to "lash out" and anyone and everyone who challenges or criticizes the Obama Administration. Are we living in the age of the "Pennsylvania Avenue Bully" operating under the montra of the Chicago Political Thugs. Cash for Clunkers was another BS give-away program that was ill-conceived and poorly handled. Why can't they accept failure and move on to their next "save the world" initiative? Edmunds.com presented a good analysis of the C for C program and the Administration doesn't like it - but that does not make Edmunds the bad guy.
So our government our tax dollars 13.560 billion so that people that are working could by a new car. It looks like the government knows how to bury us.
Edmunds.com should look at this fact: With 690,000 more fuel efficient cars on the road, how much less dependency on foreign oil did we achieve. The Cash for Clunkers program not only provided stimulation to a very stale auto-market, but also reduced oil dependency. It's a start. It's a positive step in the right direction. That's a lot more than I can say for Edminds who has overvalued gas guzzlers for how many years now?
This was nothing more then a give -away for the upper middle class. Rather then give $4,000. for a new car, the bill should have given $2,000. to twice as many people to buy used cars. It would have helped lower income people trying to get by. Some may have been able to drive to work. As it turned out as soon as cash for clunkers stopped, so did new car sales.
Don't tell me this is a company that supports the Republicans........you can smell the stench from where I sit.......
Even here in the "Golden" state you see far less Obama bumper stickers.
Now I know where they went!
Any help is better tan no help. The idea that the administration keeps trying to help the economy shold make people hopeful. I guess we could just sit around and wait like the repos want. We are fortunate to have a whit house that is progressive rathet than the party of No
Is anyone really surprised that a goverment program or policy fell way short of expectations? I'm not.