Posted on 09/11/2009 2:49:14 PM PDT by fiscon1
Transportation Secretary Ray LaHood says the government has approved $1.22 billion in reimbursements to car dealers for sales under the Cash for Clunkers program.
(Excerpt) Read more at hosted.ap.org ...
Wasn’t this a $3Bn program? You mean there is $1.8Bn government overhead in a $3Bn program? Damn...I knew gubmint was sticky-fingered, but this crap’s just pure super-duper glued....
So Ray "THE" Hood has ok'd all of 1/3 of the amount owed as most dealers are still holding their d*cks (or whatever for the females) while they struggle to cover the $$$ they fronted for this Boondoggle.
When all is said and done, I would love to see a poll of the dealers who participated , how many would do so again???
The average voucher was $4000...does this mean it cost the government $6000 to process that $4000 voucher?
I'm thinking that $1.2 billion figure is paid to-date.
At least, I hope for the dealers' sake there's more coming.
That money was supposed to be "reimbursed" within 10 days.
It's nothing but a dead end redistribution of money.
Clunkers... yeah, right (typical out of touch bureaucrats)
So, now the Used car business has dropped. Fewer trade ins result in higher prices (fewer purchasers)
NEW car sales will also decline due to accelerated sales (and potential customers will wait for better incentives -- went through that during the "same price as the Union worker")
Now that I think about it, government bureaucracy of 67 cents of every dollar spent sounds about right....I’d say they’ve pissed away $1.8 Bn of the $3Bn in just screwing off and paying overtime, benefits, etc. for the paper pushers....or, just plain stole the money.
Gaffer, LMAO. Zeppelin, they’re “on track to reimburse by Sept 30.” (Was to have been done within ten days....)
yeah i read that, and i too laughed. =P
And we have not yet even heard about the FRAUD and WASTE in this program...
You think with $3billion floating around there isn’t any?
How about we DEMAND a cover to cover accounting of the money
Call it a test to see how good they can do health care and find all that waste and fraud in medicare!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.