Posted on 07/30/2009 4:45:39 PM PDT by Orange1998
WASHINGTON (AP) -- Congressional officials say the government plans to suspend the popular "cash for clunkers" program amid concerns it could quickly use up the $1 billion in rebates for new car purchases.
The Transportation Department called congressional offices late Thursday to alert them to the decision to halt the program, which offered owners of old cars and trucks $3,500 or $4,500 toward a new, more fuel-efficient vehicle.
The congressional officials spoke on condition of anonymity because they were not authorized to speak publicly.
Through late Wednesday, 22,782 vehicles had been purchased through the program and nearly $96 million had been spent. But dealers raised concerns of large backlogs in the system, prompting the suspension.
(Excerpt) Read more at finance.yahoo.com ...
to those dealers who have already bought cars and are waiting for their reimbursement from the government:
“to bad, Suckers”... love, the obamanation
So the impossible can actually happen- a government program CAN be suspended in record time. Huh.
Another government cluster you know what.
Why not just spend the money ...
It's Amateur Hour, once again. Obama wants everything rushed thru; "can't wait...crisis...can't wait...I'm getting letters...can't wait...let me be clear". I'm shocked that any of these morons are capable of going to the bathroom. It's a good thing reproduction for them takes far fewer brain cells.
Think health care...
Just like when Paulson said the TARP money would be spent on mortgages and then a few days later gave the money to Goldman and others.
He is having a Beer right now.
The effects that this program would have on the environment are negligible to zilch... Leaning towards the former. This could, however, actually help local economies and auto manufacturers and unintended consequence, I guess. It’s obvious this program was ill-conceived mostly because of underfunding but could have been a better use of our money than the corrupt Democrat re-election slush fund which was the real purpose of ‘Stimulus’.
An actual ‘Stimulus’ program that could help the economy to a small degree and Obama kills it.
Just another failure of many.
The cash for clunkers program will be retroactive ... but so will its cancellation! I love it when liberal amateurs mess with people who are trying to steal our tax dollars.
This is why the American public should be allowed to keep more of their money and not let guvmint decide who gets the carrot and who gets the stick.
So 22,000 people got a deal on the backs of taxpayers. How nice.
I’ve given at the office, at the pump, at the store and million other places. Frankly, my wallet hurts!
And not even AMERICAN beer, the dolt!!! D’oh! I don’t have to be the Amazing Kreskin to be sensing an anti-American pattern here...
The “backlog” they are referring to is all of the dealers who “presold” cars and accepted a “clunker” on the promise they would be reimbursed for it. However, they also have to destroy the car before they can be reimbursed for anything, and that is an additional cost these dealers are reluctant to incur if the Congress is only going to cough up $1 billion in funding. They are getting an average of $4200 per clunker, but the disposal costs can be significant.
There is a very good chance that this program has been oversold a couple of times over, which is what is prompting the suspension...someone just got nervous and ran some real numbers...
Government to suspend health care for [ insert expendable class of people ] in order to create "savings."
Tonight on the local news, they said some dealers were selling ten new cars a day with the cash for clunkers program. That program, plus dealer incentives which equal about 9,000 dollars total on a new car have boosted sales.
Now, that those dealers may not get paid by the government. That is going to be a disaster.
Now, I’d like to see Obama blame that one on Bush.
Another “Ready, Fire, Aim” moment brought to you by Barack Obama.
Well, that was quick.
silly car dealers...they did’nt see the unwritten “fine print” ...where they were supposed to open their local ACORN branch office on their premises...
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