Add It Up!!!!

I had to fact check this, cause I didn't believe it, but it's accurate, except for the current price of oil per barrel. A big thank you to Mark G. for bringing this to our attention.

CLUNKER MATH

Attributed to a professor at The University of West Virginia in Morgantown, West Virginia.

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 of gas a year.
So, the average Cash for Clunkers transaction will reduce gasoline consumption by 320 gallons per year.
The government claims 700,000 clunkers have been replaced 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.

Therefore, $8.57 was spent for every $1.00 saved.

Take heart knowing that a better result can be expected with our health care.

Economics is simply math! As I noted in a previous post, the reason this country is in the financial shape it's in is because we don't do the arithmetic. The school system constantly changes the way math is taught to our children, yet math has never ever changed. So that begs the question, why is the process we teach it evolving? I'm beginning to believe the less math we know the more the government can use this type of economic hooey. Anyone who takes the time to venture into a modern math text book would be agog at the backwards method they use to arrive at the answers.

God Bless!
Capt. Bill