'Cash For Appliances' Announcement Expected Within Weeks

washingtonpost.com:

On the heels of its ballyhooed "Cash for Clunkers" program for cars, the federal government is expected to finalize details in the coming weeks of another tax-supported shopping extravaganza, known as "Cash for Appliances."

Read the whole story: washingtonpost.com

Comments

[texastrixie]

01:45 PM on 11/30/2009

I am so angry about this program. I keep reading about appliance manufacturers moving their plants offshore, and more moves are announced for 2010. This is a program that is almost guaranteed to give money for the hiring of workers in foreign countries. It does almost nothing for the working class of America. You want to put people back to work? Create a CCC and fix the roads, bridges, and do the millions of dollars worth of maintenance on America's national parks.

[invest in jobs]

11:25 AM on 11/30/2009

Stock market going up as always while unemployment continues to rise. Scr4w themiddle class..scr3w the unemployed is that the administration seems to be implying. Geithner , Bernanke & summers could care less about job loss.

hat tip to http://financeopinionss.blogspot.com

We were promised 'shovel ready' jobs and green jobs with this massive stimulus, yet the results have been anything but stimulating for those out of work. Nevertheless, the rigged economy grew 3% so we can all pretend the recession is over.

[Harrier]

11:20 AM on 11/30/2009

Since all refrigerators are made in China, I'm sure they will be the happiest of all. This is wht happens when you farm out all your industrial base

[rodrigo72]

07:09 AM on 11/30/2009

The president of Brazil said that rich countries have to give money to poor countries even fight global warming.

Obama has given 10 billion dollars for George Soros explore oil off the coast of Brazil.

Our president wants the money to clean up pollution. You want to give money to Brazil?

It seems a joke, but true.

[irishgawdess]

05:13 PM on 11/29/2009

The appliances eligible for this program... where are they manufactured? I could see a $300 m investment in US made appliances, but considering many are made in Mexico and elsewhere, (look at the back of washers and dryers on the metal plate attached), I don't see the point. If they aren't made here, we're just putting a few American salespersons to work for four months... maybe.

How does this stimulate domestic manufacturing jobs creation? That's what we need, not more sales people who'll be laid off when the program ends and people stop buying. Sorry sales people, but there are a lot of you already.

[sloreader]

05:38 PM on 11/29/2009

Good point. In my view this program should only be unveiled if American manufacturers are the only ones eligible and so long as the new unit uses 20% less energy than the old unit (which should be at least 5 years old).

[Realization]

06:13 PM on 11/29/2009

Agree but would add that it should be part of a comprehensive program to rejuvenate U.S. manufacturing. One off won't do.

[invest in jobs]

02:39 PM on 11/29/2009

invest in people , not banks

good articles; http://financeopinionss.blogspot.com

[mtracy9]

02:02 PM on 11/29/2009

--Number of job losses per month when Obama took office: 700,000
--Number of job losses last month: 190,000

--GDP decline when Obama took office: -6%
--GDP last quarter: 3.5% positive growth

--Dow Jones when Obama came into office: 8,000
--Dow Jones now: 10,300

[slithers]

04:59 PM on 11/29/2009

be honest with yourself... those numbers are fudged.

[SqueekndeToys]

09:25 AM on 11/30/2009

to be honest with yourself, even if they weren't, you'd claim they were.

[jer9848]

05:16 PM on 11/29/2009

Under Bush everything was perfect!!!! sniff

[tuberider]

12:59 PM on 11/29/2009

I'm gonna get a 58' Stankey 3-D Liquid Display Omnivision Matrix with "Shock 'n Awe Senso-Sound" Billionaire's- Boob- Toob entertainment center, then declare bankruptcy.

[tuberider]

12:49 PM on 11/29/2009

Currently, China prefers crushed metal over dollars. I'm worried about when they'll only accept water or oil or food.

[Please-Play-Fair]

11:50 AM on 11/29/2009

The problem is that Cash for Clunkers ended up with people trading in gas guzzling trucks ... for newer gas guzzling trucks. Not sure that did much to assist in getting more fuel efficient cars on the road. I hope there is more thought put into this stimulus before it's rolled out.

[GirlFriday123]

11:22 AM on 11/29/2009

Sunfrost Refrigerators - Made in the USA - use a fraction of even energy star rated appliances, and you can fix 'em yourself:

http://sunfrost.com/

[Papa Swamp]

09:07 AM on 11/29/2009

Fill those landfills up with more crap. Our consume and throw away mentality continues.

How about bailing out Main Streets Debt instead of trying the spending will make us recover mentality. This doesn't create jobs in the US just increases the huge trade gap.

Very few appliances are made in the US and most of the components come from overseas (just like US car manufacturers...30-50% overseas components/materials). This is NOT helping people save and get out of debt. This does not help the environment....stop the stupidity!!!!!

[GranE]

12:54 PM on 11/29/2009

Spoken by a man who cannot fix anything. One of the major problems with buying a new house is that all the appliances wear out at the same time. There is no such thing as a frig being made to last 30 years, unless you mean going back to plastic ice trays. Stoves run by computer wear out, and replacement is almost as much as a new stove. A frig that runs almost continuously is expensive and wasteful. I agree about not filling up the landfill, but what else can we do with worn out appliances? I have a solution, quit cooking, run the washing machine water on the yard if the city will allow it; turn off the air conditioner and run the fans; install a solar system; drain the hotwater heater and turn it down. Did I miss anything? Oh yes, when you get older than the appliances it's time for someone else to lift them out and install new ones. And yes, I am waiting for the rebate program to do so, but there will be more old computers in the land fills than applicances.

[Papa Swamp]

02:01 PM on 11/29/2009

Actually I did repair my own washer 2 yrs ago and it still works great, just finished redoing the kids bathroom, tub, pipes, tile, drywall and molding. So you know what you can do with your assumptions.

This is not for worn out appliances, just like cash for clunkers wasn't for worn out cars. The idea is to trade in inefficient appliances for more efficient ones....not trade in broken ones for ones that work. It is also supposed to help out appliance manufacturers....the majority of which are foreign. I do not expect a frig to last 30 yrs (except for my great grandmothers), but I do expect it to last 10-15. After redoing our kitchen 3 yrs ago..every appliance has needed repair (the very circuit boards you mention made in someplace other than the US).

But again this program doesn't solve the underlying problem of the 70% of the economy being offline (the consumer) due to being unemployed and heavily in debt. Instead it merely injects cash into foreign companies.

[mtracy9]

03:39 AM on 11/29/2009

--Number of job losses per month when Obama took office: 700,000
--Number of job losses last month: 190,000

--GDP decline when Obama took office: -6%
--GDP last quarter: 3.5% positive growth

--Dow Jones when Obama came into office: 8,000
--Dow Jones now: 10,200

[Papa Swamp]

09:01 AM on 11/29/2009

-October job losses were over 2 million. Look at the totals (add each week) of non-seasonally adjusted numbers for the month not the government average (remember they only count 'insured' job losses) Uninsured and graduates are NOT counted.

-GDP was revised down to 2.8% (and the final number won't be out until Dec) with Cash for Clunks accounting for almost half. Additionally, injection of $200 Billion with a loss of over $2Trillion does not make growth...the numbers are fudged.

-Wall Street is completely decoupled from Main Street and has received several trillion dollars in government cash injection...it better have gone up. Unfortunately losses realized for 401Ks etc. have yet to recover.

I do not blame POTUS for the cause of the situation (though he did nothing to stop while Senator), but he is responsible for all actions taken since being in office. He bailed out Wall Street....not Main Street.

[Please-Play-Fair]

11:59 AM on 11/29/2009

we threw boat loads of $$ at the car industry and financial institutions. Many of them still went bankrupt. So, all of that stimulus only stimulated bankruptcy followed by a huge debt. Put more thought into who gets the $$ and if there is really a chance for survival.

As you mentioned ... Main street (aka American citizens) are the ones that need to see the $$ in their ability to get loans. Have the government back the banks on small business and personal loans ... much smarter way to stimulate. I work for a high tech start up and we can't get loans or credit. That is a go out of business plan.

[mtracy9]

02:05 PM on 11/29/2009

He bailed out Wall Street....­not Main Street

_______________

The bailout of the banks occurred under the Republican Bush regime and was proposed by Bush/Cheney.

[Labsaregreat]

09:25 AM on 11/29/2009

you should add the unemployment rate... It's about jobs baby!!!!!!

[mtracy9]

03:35 AM on 11/29/2009

Amazing all these right-wing sre.wballs having a hi.ssy fit over programs like clash for clunkers (cost $3 billion); meanwhile Bush's war in Ira.q. has cost American taxpayer $10 billion per month, and the Pentagon budget is now about $550 billion a year. These right-wing ma.ggots are completely clueless...

[Please-Play-Fair]

12:01 PM on 11/29/2009

Not all of the right supports Iraq. But Cash for Clunkers was supposed to be a "green" approach. Trading in old trucks for new trucks doesn't do anything to help the environment. They should have put in a long term plan that continued stimulating the car companies vs doing it for 1 month. Car companies are right back to square 1.

[Papa Swamp]

02:05 PM on 11/29/2009

Yes and congress and the president can withdraw form both wars at any time and cut the defense budget dramatically......but haven't.

Social Security, Medicare and medicaid are a $45 TRILLION disaster, that alone will drive the US debt beyond 100% GDP in 10 yrs..

Plenty of blame to go all around.

[mtracy9]

03:30 AM on 11/29/2009

"America has a strong economy and a surplus.... Now is the time to reform the tax code and share some of the surplus with the people who pay the bills."
--George W. Bush, nomination acceptance speech, 3 August 2000

After the election of 2000, Bush and a Republican-led Congress reduced income taxes, with the majority of the tax cuts going to America's wealthiest individuals. With the introduction of Bush's tax cuts, the budget surplus immediately disappeared and deficits resumed. By the end of Bush's eight-year term, the national debt stood at $10 trillion -- double its level when Bush assumed office. And, as for the strong economy Bush talked about when he assumed the Presidency­..........

"This is an impressive crowd -- the haves and the have-mores. Some people call you the elites; I call you my base."
--George W. Bush, at the annual Al Smith Memorial Foundation Dinner, 19 October 2000

[tuberider]

12:52 PM on 11/29/2009

...and "Wall Street got drunk...". Couldn't we at least get them to pick up litter on the freeways?