Friday, August 21, 2009
Cash For Clunkers Will Be Declared Dead On Monday; Ted Kennedy To Follow Soon
Transportation Secretary Ray LaHood announced that the popular "Cash for Clunkers" program will end at 8 p.m. on Monday because the $3 billion allotted for trade-ins has been largely spoken for.
Intended to bolster the auto companies and encourage consumers to buy fuel-efficient cars, the federally sponsored buyer incentive program proved to be wildly popular, attracting far more auto buyers than originally projected.
Dealerships have been swamped with consumers looking to trade in their clunkers for a voucher worth up to $4,500 toward the purchase of a new, more fuel-efficient vehicle. Under the program, which kicked off July 24, dealers essentially front the money for the cash incentive with the understanding that the government will reimburse them once they file the necessary paperwork online and the deal is approved. But many dealers said they have not been reimbursed by the government and are becoming more cash-strapped.
Transportation officials said paperwork representing 457,000 sales, worth about $1.9 billion, had been turned in to the government. Just under 40 percent -- or 170,000 -- of the applications have been reviewed so far, accounting for $145 million in payouts. But a large number of those are incomplete or have inaccurate information, which means the application is sent back to the dealer to be re-submitted, according to a senior administration official who briefed reporters Thursday.
Officials initially thought money for the program would last at least through Labor Day.
The National Automobile Dealers Association cautioned its members Thursday to not take more trade-ins, warning that there may be no more money left after the government processes thousands of backlogged applications.
"We are making dealers aware of the fact that [the Department of Transportation] has said that once the money is gone, that's it," said NADA Chairman John McEleney. "If there are more deals submitted than what the funds can support, there's a risk involved" that the dealer won't be reimbursed.
Another problem is that dealers have to pay off the loans they took out to buy vehicles from automakers once they sell the vehicles. But many dealers are now stretched so thin that without the reimbursement from the government they can't pay off their loans, and they are reluctant to sell more cars.
To deal with the onslaught of paperwork, transportation officials said they expect to triple the number of workers processing forms by the end of this week to 1,100. The Department of Transportation said it has reviewed 167,000 applications, out of 458,000. They say they've also held web seminars to help dealers understand how to fill out the paperwork properly.
I don't understand why the Cash For Clunkers program is being canceled?
You mean it wasn't wildly successful and cost-effective ? What could have possibly gone wrong?!?
It wasn't in the best interests of the taxpayers and the automakers?
It couldn't be the price tag of it, because the answer from Liberals to all problems is, "spend more money."
And, jeepers, looky at all the jobs the program created and appears likely to create. Government jobs are good jobs, right? An ever-expanding government is Holy Orgiastic Nirvana to Liberals.
So why the funeral for Clunkers?
Because it was a boondoggle from the start and everyone knew this. Everyone. Even most Liberals knew this, but they refused to acknowledge it because their agenda is, and always has been, promoting Socialism first. Your freedoms come second...maybe ninth. Possibly last.
And The Pissing-Their-Pants-With-Glee-Pillow-Biting-Pbama-Cultists want the government to run Nationalized and Rationed Healthcare?
Trust the govt. Yeah. We'll reimburse you as soon as we can.
"The check is in the mail."
"I do love you."
"No, I won't cum in your mouth."
"Obama is looking out for our best interests."
Which is the most absurd statement of the above? Hmmmmmmm.......
Hmmm, that's funny since it was the auto makers, the unions and the US government who are to blame as a whole.
Take the auto makers, they spent uncontrollably on extravagant planes, trips and bonus's for the higher ups in each of their respective companies. They produce vehicles that depreciate almost $5 to $7,000 dollars as soon as you drive them off the lot. Not to mention most cost more than the average person makes in a year.
The union's are a joke as far as I am concerned and should be illegal. Demanding 25 to 30 dollar's an hour is ridiculous not to mention they can walk out and shut down entire companies by doing so.
Then there is the almighty US government who in their infinite wisdom stood back and let the auto makers in conjunction with the oil companies dictate miles per gallon for vehicles keeping that number low so people would have to visit the fuel pumps more than they should.
Last but not least lets look at the American people. We love our big vehicles until gas prices go up.
Cash for clunkers was a feudal stab at best to help the auto makers sell cars. However if it were not for those greedy bastards on capital hill who love to line their pockets with campaign contributions instead of trying to fix what needs to be fixed we might not have the unstable auto market we have today.
It is the blame game at it's best but the thing is we are all to blame because we elected them to represent us when who they really represent is the top 10 percent.
Links to this post:
accordance and compliance with Fair Use Section 107 U.S. Copyright Code.
All other images and content © 2005-2009 David Drake.
Not responsible for content contained at linked sites.
Policy on commenting:
- Anonymous comments have little chance of being published.
- Comments made on posts 60 days old or older have little chance of being published.
- Published comments do not necessarily reflect the views of this blog author.
- Discretion of publishing or rejecting submitted comments rests solely with the owner and creator of this blog.
- Comments that egregiously "plug" (i.e. advertise or promote) another site or blog will be rejected. This doesn't mean you cannot include a link to your story, blog or to another site, but don't go overboard.
- Profanity is not a disqualifying factor, but profane rants solely for purposes of profanity are unlikely to be published.
- The owner and creator of this blog is not liable or responsible for the opinions of those who comment.