Dave Ramsey compares Cash for Clunkers to subprime mortgages
Filed under: Borrowing, Budgets, Debt, Transportation
Now that Cash For Clunkers has come to a merciful conclusion, I thought it would be fun to post this video of get-out-of-debt guru Dave Ramsey explaining on his FOX Business show why Cash For Clunkers was such a horrible program. Check out the clip below, courtesy of Hulu.
And by the way: If you're thinking about buying a new car, you absolutely must watch the entire episode -- and forward it to anyone you know who is buying, or will ever buy, a car.
And by the way: If you're thinking about buying a new car, you absolutely must watch the entire episode -- and forward it to anyone you know who is buying, or will ever buy, a car.
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Reader Comments (Page 1 of 1)
8-27-2009 @ 11:03AM
Bruce said...
I started to use the clunker program but the dealership was using it as a price dealing point and the deal fell through. I felt guilty about taking the governments "free cheese" clunker money. There is so much about this program that goes against my grain. We're all going to pay for this somehow in the end.
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8-27-2009 @ 9:44PM
Reid said...
Single handedly caused the recession. What are you on? We are based on a consuming market. If these so called broke people weren't purchasing houses and products years ago during the sub-prime rate. Doesn't logic say that the ecnonomy would have fallen sooner. The reason we are seeing this downfall is because we have become a global economy. We no longer purchase products from our own country. It is cheaper and more economical for the average person to buy clothing products and the sort that are made in Indonesia made by children. We need to implement tariffs and provide a self sufficient country once again.
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11-14-2009 @ 12:20PM
j said...
I was with you on what a stupid idea it is to buy a new car especially if you are poor or constantly on the verge of bankruptcy. However, the diatribe against taxes and the provision of support to poor families was a misguided rant. I want my children to grow up in a place where all children have the opportunity to be well educated and supported in safe environments. While charity plays a big part in ensuring that outcome, the government plays a bigger one, with more reach and opportunity than charities. I do not resent being asked to help families who have had less opportunities than I.
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