'Cash for Clunkers' Going Broke (shutting down Thursday night)

Politico ^ | July 30, 2009 8:44 PM | Staff

[dawn53]

Evidently some of the “credit” the auto dealers gave they may not get back from the gov’t. because the cars didn’t meet the “standard” of a clunker.

I was also ready today that those who applied for the first time home buyers tax credit this year (by amending their tax return...which was evidently what the gov’t was suggesting) have had a long wait for their tax credit. Some have waited months w/out seeing the $$$.

[STONEWALLS]

...the beauty part of this is that it will hurt Obama-care....people figure this fiasco is a glimpse of what government run health care will be.

[Loyal Buckeye]

The jackasses killed my baby.

[Kickass Conservative]

Apparently this was the only thing in the Stimulus Package that Stimulated anything.

They should rename it the Shovel Ready Cash for Clunkers program.

[fight_truth_decay]

One Honda and General Motors dealer in Fort Worth says he has 50 clunker deals that were being held up by paperwork. "We're going back to our second and third round with customers to have things signed," said Will Churchill, owner of Frank Kent Motor. "They keep coming up with new forms to sign," Churchill said........ Now the dealership is in a Catch-22 situation: he must destroy the engines of clunker trade-ins to be eligible for the program. But if the paperwork falls through, he could be stuck with junked, rather than still running, cars.

[Kickass Conservative]

Looks like the Recession hasn't affected Stabenow’s food supply.

[PubliusMM]

So...the industry sold over 200,000 vehicles in a week? And, they all qualified for the full $4500 clunker payment?

Bull Puckey!

A billion dollars, divided by $4500 per ‘clunker’ comes out to 222,222 vehicles; that’s an annualized rate of 11.5 million vehicles. So, shouldn’t we be hearing about this amazing success from someone, anyone in the MSM?

[Kickass Conservative]

Just imagine if you were waiting for Government Approved Heart Surgery.

Don't put him under yet, we're waiting for the Post Office to deliver the Surgery Approval paperwork.

[fight_truth_decay]

Updated:

[Rome2000]

...the beauty part of this is that it will hurt Obama-care....people figure this fiasco is a glimpse of what government run health care will be

Oh, this is nothing , before these red sons of bitches are done destroying the economy we will be just like Husseins buddies over in Zimbabwe

[Kieri]

Cash for Clunkers will be back.

It’ll be known as “Cents for Seniors” health care program.

[politicalmerc]

If only 22782 where traded in, why are they out of money?

[boop]

So just “vote” for more cash and it will be done right? I hate liberals.

[Rome2000]

Looks like the Recession hasn't affected Stabenow’s food supply.

They had better lay in extra tar and feathers when they come for her fat red rear.

[boop]

Supposedly dealers take in the clunkers, fix them up and ship them overseas. Net help to the environment=zero. Making liberals feel good=priceless.

[fight_truth_decay]

Rep. Betty Sutton, D-Ohio, also a co-sponsor of CARS who wanted $4 billion, got the news from DOT Secretary Ray LaHood Thursday night, according to Sutton's chief of staff Nichole Francis Reynolds. Reynolds said, "The program's spent $150 million and has another $800 million to $850 million in (pending) obligations… This is one of those programs you can really see working." She says CARS has "overwhelming support" and Sutton was pressing to free more money to continue the program.

DOT could not be reached for comment Thursday night.

Wood said dealers were amazed at how many shoppers visited their showrooms this week. The program has been in effect since July 1, but the details were finalized only a week ago.

[STONEWALLS]

thanks Rome2000!! those are really GREAT photos.

[RedhairRedhair]

Traded the ole 69 COPO Camaro for a Saturn Aura and got a $4,500 clunker discount and beat the deal up for another $900 (and a hat).

The Saturn has a little less power but that old Camaro - well she left a huge carbon footprint.

I feel like a fag in my new car.

[Humble Servant]

” One Michigan Republican, Congresswoman Candice Miller, has already come out in favor of extending the program, saying in a statement that “There can be no doubt that the Cash for Clunkers program is a complete success given the fact that the entire $1 billion allocated to the program was expended in less than a week.” “

So the criterion for success is how fast you can make a billion dollars disappear into thin air? And she’s a RePUBlican???????????

Time for a new Party, folks.

This one’s O-ver.

[dangerdoc]

Our local news proudly reported that the feds paid owners $98 million getting old cars off the road.

They budgeted $1 billion.

I can do math as well as the next guy, where is the other $902 million dollars?