Obama spends 3 billion to save 350 Million

Here's a great little tidbit on Obama's fuzzy math that was sent to me:

• A vehicle at 15 mpg and 12,000 miles per year uses about 800 gallons of gas a year.

• A vehicle at 25 mpg and 12,000 miles per year uses about 480 gallons a year

.• So, the average clunker transaction will reduce US gasoline consumption by 320 gallons per year.

• They claim 700,000 vehicles – so that’s about 224 million gallons/year.

• That equates to a bit over 5 million barrels of oil

.• 5 million barrels of oil is about ¼ of one day’s U.S. consumption.

• And, 5 million barrels of oil costs about $350 million dollars at $75/bbl.

• So, we all contributed to spending $3 billion to save $350 million, which means over 8 years to get back even.