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Thursday, March 4, 2010
We are in the best of hands.
A clunker that travels 12,000 miles a year at 15 mpg uses 800 gallons of gas a year.
A vehicle that travels 12,000 miles a year at 25 mpg uses 480 gallons a year.
So, the average Cash for Clunkers transaction will reduce US gasoline consumption by 320 gallons per year.
They claim 700,000 vehicles, so that’s 224 million gallons saved per year.
That equates to a bit over 5 million barrels of oil.
5 million barrels is about 5 hours worth of US consumption.
More importantly, 5 million barrels of oil at $70 per barrel costs about $350 million dollars
So, the government paid $3 billion of our tax dollars to save $350 million.
We spent $8.57 for every dollar saved.
I’m pretty sure they will do a great job with health care though…
We’re in the best of hands.
From: Instapinch.com
A vehicle that travels 12,000 miles a year at 25 mpg uses 480 gallons a year.
So, the average Cash for Clunkers transaction will reduce US gasoline consumption by 320 gallons per year.
They claim 700,000 vehicles, so that’s 224 million gallons saved per year.
That equates to a bit over 5 million barrels of oil.
5 million barrels is about 5 hours worth of US consumption.
More importantly, 5 million barrels of oil at $70 per barrel costs about $350 million dollars
So, the government paid $3 billion of our tax dollars to save $350 million.
We spent $8.57 for every dollar saved.
I’m pretty sure they will do a great job with health care though…
We’re in the best of hands.
From: Instapinch.com
Ways and Means Chairman update
Levin to Succeed Rangel as Ways and Means Chairman
By Tory Newmyer
Roll Call Staff
March 4, 2010,
Rep. Sander Levin (D-Mich.) will take the chairmanship of the Ways and Means Committee and Rep. Pete Stark (D-Calif.) will step aside, Speaker Nancy Pelosi (D-Calif.) told the Democratic Caucus on Thursday morning, sources in attendance said.
Stark, the No. 2 Democrat on the panel, has been serving as acting chairman since Rep. Charlie Rangel (D-N.Y.) surrendered the gavel Wednesday, but Democrats on the committee resisted the idea.
Hattip: Instapundit
By Tory Newmyer
Roll Call Staff
March 4, 2010,
Rep. Sander Levin (D-Mich.) will take the chairmanship of the Ways and Means Committee and Rep. Pete Stark (D-Calif.) will step aside, Speaker Nancy Pelosi (D-Calif.) told the Democratic Caucus on Thursday morning, sources in attendance said.
Stark, the No. 2 Democrat on the panel, has been serving as acting chairman since Rep. Charlie Rangel (D-N.Y.) surrendered the gavel Wednesday, but Democrats on the committee resisted the idea.
Hattip: Instapundit
Wednesday, March 3, 2010
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