Sure, America was just getting used to the financial floggings that forced us to pay $7,500 for every fire-starting Chevy Volt sold. But with sales as low as 281 units per month, ObamaGenius buried – that’s right, I said ‘buried‘ – in his 2013 budget the increase to $10,000 per Chevy Volt purchased.
Obama Hikes Subsidy To Wealthy Electric Car Buyers
(Daily Caller) The White House intends to boost government subsidies for wealthy buyers of the Chevy Volt and other new-technology vehicles — to $10,000 per buyer.
That mammoth subsidy would cost taxpayers $100 million each year if it is approved by Congress, presuming only 10,000 new-technology autos are sold each year.
But the administration wants to get 1 million new-tech autos on the road by 2015. The subsidy cost of that goal could reach $10 billion.
The planned giveaway will likely prompt populist protests from GOP legislators, but it will likely also will be welcomed by auto-industry workers in the critical swing state of Michigan.
That welcome is critical for President Barack Obama, who is touting his support for blue-collar manufacturing programs to help offset his low public approval ratings.
The new subsidy level represents a 33 percent jump from the current $7,500 government payout for each Volt buyer, even though the Volt’s buyers are already among the wealthiest Americans. It will be offered to buyers of any new-technology autos, including battery-powered autos and cars powered by natural gas, said a White House official.
The extra money for wealthy buyers will be borrowed funds, eventually paid off by future taxpayers in all income brackets.
The extra subsidy is buried in President Barack Obama’s request for the 2013 budget, but was briefly described by White House economic chief Gene Sperling during a White House briefing today.
“We give consumers the incentive to buy these cars, he said, adding that the credit would be $10,000 per auto.
The budget document, titled “Investing in Our Future,” includes a goal of putting “One Million Advanced Technology Vehicles on the Road by 2015.”
To reach this goal, the budget “continues to support electric vehicle manufacturing and adoption in the United States through new consumer rebates, investments in R&D, and competitive programs to encourage investment in advanced vehicle infrastructure,” says the document.
This article is dedicated to Ron G. Thank you for your support!
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press release propaganda: Tuesday March 1, 2011
Obama’s Playbook – published by 1940′s General Motors: HERE
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