Friday, March 09, 2012
Obama can read a TelePrompter pretty well – but math is apparently not his strong suit. Responding to questions about the rising cost of gas (really, the falling purchasing power of the increasingly worthless dollar), our Great Leader explained that his 55 MPG fuel economy mandate would provide relief:
“…folks will be able to fill up every two weeks instead of every week, saving the typical family more than $8,000 at the pump over time,” he said. “That’s a big deal, especially as families are yet again feeling the pinch from rising gas prices.”
Very folksy talk. No doubt he assumes the folks are as innumerate as he is a smooth talker.
Because what he is saying amounts to – first – you will have to buy a new Obama Car in order to offset the cost of fuel. Let’s work that out and see how it will help the folks.
The average cost of a new car – 2012 – is about $18,000 (not including the financing, not including the taxes, including personal property taxes where applicable, or the cost of a full-coverage insurance policy on a new car). This amount will buy you something along the lines of a Honda Civic one step up from the base model without AC.
Let’s say gas goes to $5 per gallon. That’s about $1.25 in depreciated dollars more than we were paying around this time last year.
at 3/09/2012 06:15:00 PM