The Cash For Clunker Debacle

The Provocateur ^ | 07/31/2009 | Mike Volpe

[fiscon1]

With the loan modification program the problem so far is that the program is so complicated, confusing and convoluted that it's hard to get any loans approved under the program. As such, a program that was supposed to save millions of homeowners from has saved a fraction of that. The cash for clunkers program has a totally different problem. It's so lucrative and straight forward that it's exceeded demand and is now out of money. This was supposed to be a $1 billion program in which car buyers traded in their older cars for new fuel efficient vehicles and received a $4500 credit from the dealership that would be applied to the new purchase. The program was supposed to last until the fall. It appears to have run out of money in four days.

[MeneMeneTekelUpharsin]

Another very clear example of how government will run healthcare. Prepare to die.

[GOPJ]

There was enough money for every dealership in the country to sell 12 cars under this program.

It's gonna cost a few billion more - or many car dealerships are going to go out of business.

And these are the people we're going to truth our health care with?