Govt "Cash for CLunkers program goes bankrupt in 5 days. Next: Govt Health Care! (rating, money)
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"Order more ink! We gotta a lot of printing to do!"
ben bernanke
We are in debt like crazy people and we are handing out money to people who drive clunkers.
Why not just double up their welfare checks and let them keep the car.
We cannot afford to be buying clunkers.
This stupid idea needs to end and bring it up when we can afford to buy clunkers, and that is surely not right now with the massive debt we have piled up in the last 7 months.
Obama idea to run our government like a household budget again has failed.
Oh, I get it. Well, that makes all the difference, doesn't it?
I guess I need to rephrase, to conform to sickofnyc's Newspeak:
When government Health Care does better than expected because it's a great idea and they allotted only a certain amount (ever see a government program that didn't run out of money?), what solution will Congress come up with? Will they triple that program's budget (now known as extending the program) too? Or start cutting back on care (aka "rationing")? Or maybe some of both?
There, how's that?
So, we should not give incentives that are driving up car sales and getting non-fuel efficient cars off of the roads.
Q: What's the price tag?
A: About $4 billion. The money is currently proposed to come from Energy Department funding included in the already enacted $787 billion economic stimulus package.
Well the house just passed 2 billion more and the president said all deals will be honorede thru the weekend sales until senate passes the new funds. Actaully I thnik of all the stimulus this maybe the best. Its helps the auto sales at the right time;end of year.it helps people that have clunkers;it get polluters off the road which account for reported 90% and it keep the dealers people employed. Its also easy and quick to do with less government workers involved;less management cost.This was copied from a Texas plan last year which was aimed at emissions which also was soldout quickly.Wouldn't effect me but from what I hear many dealers are out of qualifying vehicles already. Stimulus that hits many levels of the populace IMO.I much more favor this than alot of teh stimulus that goes federal to sate to local governamnt ;is politcally aimed on alot of non -neceasry projects;takes ayear or motre to get started and subject to waste ;fraud and abuse much easier.It also combines federal money with private at a low matching ratio for government.
“Oh my God, what a mess today,” Sally Ann Maggio, who co-owns Hackensack Auto Wreckers, also in New Jersey, said on Friday. We visited her car-crushing business on Thursday. She didn’t think much of the program to begin with.
Ms. Maggio said she generally makes her profit by reselling the engines, the most valuable parts of the cars she takes, but that’s not posible with the cars coming to her because of the cash for clunkers program, because they have been rendered unusable. That cuts down the salvage value of the cars — and the incentive for salvage yards and wreckers to take them — to almost nothing, considering the time and energy they must spend in going to the dealer, towing back the dead cars, removing the engines, crushing the bodies and shipping them to a metal scrap shredder and recycler.
And, of course, the process reduces the supply of used engines for people who can’t afford to buy a new car and come to the salvage yard looking to fix up old ones.
Obama administration withholds data on clunkers - Yahoo! News (http://news.yahoo.com/s/ap/20090804/ap_on_go_pr_wh/us_cash_for_clunkers_transparency - broken link)
Quote:
WASHINGTON – The Obama administration is refusing to quickly release government records on its "cash-for-clunkers" rebate program that would substantiate — or undercut — White House claims of the program's success, even as the president presses the Senate for a quick vote for $2 billion to boost car sales.
The point of the program is to get gas guzzling air polluting hoopties off the road. It's actually a boon for the economy. They'll sell more cars which will create/save jobs. Yeah, greedy execs will take their cut but nothing is perfect.
Why are you lying?
It is not about getting such vehicles off the road,otherwise there would not have been so many restrictions upon the year of vehicles put in place.
It is just as bad as the Democrat led sub-prime. I am sure that Fred who makes $20,000 a year and drives the 20 year old clunker worth $500 for parts can really now afford that $500.00+ new car payment. Give me a break! Look into the details of the program, it is just a way to give out cars that will be repossessed in less than a year.
LMAO! $500+ per month? That would be a BMW or Lexus or Mercedes. Who on earth is going to lend money for a Mercedes to someone making $20k a year? How 'bout you? Wanna lend Fred fifty grand?
Your claim of motivation is equally nutty. Why would anyone willfully sell cars that they know will be repossessed in less than a year? What've you been smokin'?
It didn't go bankrupt. They just did better than expected because it is a great idea and they allotted only a certain amount. They are going to extend the program.
‘Cash for clunkers’ drives up car sales
It’s a win-win,” said Steve Rennells, sales manager at Head Motor Co. “It’s taking some high-mileage, low-quality vehicles off the highway and getting folks into better, more fuel-efficient cars at a more reasonable rate than what they normally could do.”
we know most people are asleep. That is why the Government is gaining so much power and we are getting pummeled.
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