Exotic clunkers also got the crunch under program | Detroit Free Press | Freep.com
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Beyond car lovers’ grief over why anyone would destroy sweet rides like a 1999 Mercedes C43 AMG, the value of the junked jalopies plays a major role in deciding whether the $3 billion program helped the economy. Two economists at the University of Delaware said Tuesday that assuming the average clunker was worth just $1,000, the costs outweighed all benefits by $1.4 billion. ...Council of Economic Advisors estimated last month that the program saved or created 21,000 jobs and boosted the national economy in the third quarter...
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each 'job created' was at a cost of $142,857.1429 tax dollars.. hemmm efficient government spending if there ever was such a thing
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The 2008 model year vehicles deemed clunkers ranged from a Scion xD to 10 Mercury Grand Marquis sedans to two copies of special edition F-150 pickups, sporting 450-hp V8s and Chip Foose-designed paint jobs.
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