Car deals and the United States government? Nothing in that combination to instill a lack of trust, huh?
This much seems certain about the Cash for Clunkers program: Consumers are happy to take government rebates to buy new cars.
The fate of the $1 billion trade-in program was up in the air over concerns that it may have already burned through its funds less than a week after it was officially launched.
It was unclear whether car buyers would be able Friday to trade in clunkers.
[. . .]
As of Wednesday afternoon, nearly 30,000 Clunker transactions had already been submitted to the National Highway Traffic Safety Administration, the agency said, with requests totaling almost $96 million in disbursements.
Federal stimulus package: $787 billion.
Obama health care proposal: $1 trillion
Damage to American economy from cap-and-trade: incalcuable.
News that $1 billion clunker program may be suspended after $96 million because the government "may run out of money" for it: priceless.
Comments
Leo:
Makes me glad I held onto that 1983 Firebird that I bought 26 years ago.
I posted about a (CfC) story I heard on the radio yesterday...really interesting.
Nice to know we're on the same page today.
;)
Cash for clunkers...now (as of Friday) $3 billion....only $2 billion off. Whew! What a relief. Let's hand 'em all the first estimate on health at $3 trillion.....What could possibly go wrong?
Too many American citizens (and non-citizens) just EXPECT your Congress Critter to wipe your arse.
I've said it before (numerous times) just WHO do you think is gonna pay for all this sh&t???????????
Any Econ 101 class will teach you, printing money just for the he&l of it causes far more problems than actually paying the frickin' tab.
These are troublesome times boys & girls, we owe China $13 trillion....yes with a T. Are we that far gone that we all believe we can just "charge" our national credit card forever???
No offense, but if ya try it at home, you're fricked, aren't you?????
I don't care how passionate you are about all of the injustices in our country, printing monopoly money simply doesn't CURE the problem, it prolongs it.
Any Econ 101 class will teach you, the only way out of this, if we don't want to wait a decade or more, is for the government to spend or give tax breaks to people who will spend (not the rich). Because people aren't spending now, and when people don't spend, business doesn't hire, or worse yet, they lay off people, and this at a time when people should be spending with the Fed lowering interest rates to just about zero.