"If you're complaining about the price of gas and you're only getting 8 miles a gallon, you know," Obama said laughingly. "You might want to think about a trade-in."
Let's go . . . to the back of the envelope!
Let's say you drive 200 miles per week.
Let's say that you currently get 8 mpg and are paying $3.70/gal.
200 / 8 = 25 gallons used per week * $3.70 = $92.50/week in gas.
Let's say your current car is worth $4,000 in trade-in and you own it free and clear.
Let's say the car Obama has in mind for you gets 25 mpg.
200 / 25 = 8 gallons used per week * $3.70 = $29.60/week in gas.
That's a savings of almost $62/week in gas!!! Or $250/month!!! You've hit the motherlode. Thanks Obama!
But wait. Now let's say that car costs $20,000 and after your trade-in you finance $16,000 at 6% interest for 4 years.
Your new car payment is $375/month.
Thanks to Obama, you now have monthly expenses $125 more than before he touched your life.
But the feeling you get driving around in a new, Obama-approved car means the thing pays for itself. In Obama-bucks.
Hey, I just had an idea. Let's put this Obama guy in charge of the federal budget! With this kind of brilliant grasp of economics that federal deficit will be gone in no time -- he said laughingly (in order to keep himself from crying).
Do be sure and read that Instapundit post -- the AP decided to scrub the article of this quote, but Glenn's got the screen shot and the video.