“Unfortunately the biggest loser in this would be the average American, who is already $2,500 upside down in his car.”

Democratic lawmakers have proposed a cash-for-guzzlers bill that would provide vouchers of up to $4,500 to people who trade in cars and trucks for new, more fuel-efficient vehicles.

The program, if approved by Congress and signed by President Barack Obama, would lead to about one million new-vehicle purchases, according to Michigan Democrat Congressman John Dingell.

Customers would get a $3,500 voucher if they trade in a car that gets less than 18 mpg for a new car with mileage of at least 22 mpg. Vouchers of $4,500 would be awarded if the new car gets at least 10 mpg more than the old, the statement said.

It is ludicrous to pour in more money after bad, putting taxpayers further in debt to bail out companies with money we don’t have for auto manufacturers that cannot succeed without a product that Americans need or want—and with no current plans to build one!”

With Chrysler filing for bankruptcy, Chrysler simply won’t be competitive nor will GM for that matter in competing for this cash because they have their own incentive problems in Bankruptcy court and the banks are skittish about loaning money on car loans for possibly bankrupt manufacturers.

With GM and Chrysler closing plants and closing dealerships they can’t compete, not to mention share of voice in the advertising blitz that would soon come to our air waves.

Honda, Toyota and the like can simply drop their own incentives and ride on the US Taxpayer for the next few months! Attempts to reward Detroit’s Failure to meet customer needs and wants for two decades are failing fast and, without a horse waiting in the stable you can’t win a race!

Unfortunately the biggest loser in this would be the average American, who is already $2,500 upside down in his car. Now he sees the Joneses and the Smiths and three other new cars on his street and says to himself, “those guys all used my tax money to buy new cars I gota get me some of that.” He then goes and finances a new car, let’s say a Dodge Avenger sticker price $22,500 with rebates and his new voucher he pays $16,500 add his $2,500 negative equity he finances $19,000. Did he realize he could have bought that same car at the Auction right now for $10,000? With Chrysler’s current situation then add the incoming closed and broke dealer inventory being liquidated and this voucher program you will see auction prices dropping like lead. Now our fellow American is $9,000 upside down and he won’t be able to trade for four more years. IT”S A TRAP!!!!!!!!! Oh did I mention you still have to pay the $4,500 somewhere along the line or your grand children will. Will it save GM and Chrysler no. Will it put some Americans back to work, probably for a short time? The answer still needs to be a better product. Getting off the Rebate Juice has proved impossible for Detroit and may prove impossible for Federal Motors. All this is way too insane for me to really express the mess it causes. More Federal warranty claims down the road for the President’s warranty program, with dealers closing who knows how these warranty claims will be processed.

Why do the President and the Congress think they know something about the car business? This is a test America, who will be your Savior? The Government can not save us! We can get on our knees now and pray for wisdom.

Tomorrow is the National day of Prayer and I know we need divine intervention to turn this congress and this President from enslaving the American people with debt both nationally and personally. 

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