Cash for Clunkers turns into a clunker, out of money

Another day, another Obama failure. After only 1 week, Cash for clunkers has run out of money and the program will end at midnight tonight. The government is suspending the explosively popular ‘cash for clunkers’ program fearing it would go broke before it could parcel out what it still owes dealers for a huge backlog of sales. From USA today:

The pending suspension was confirmed by Bailey Wood, legislative director for the National Automobile Dealers Association (NADA), which had been called Thursday night by the National Highway Traffic Safety Administration, which administers the program. Rep. Candice Miller, R-Mich., confirmed as well, saying she had been told by congressional leaders.

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July 30, 2009 · Filed Under General Politics


Comments

  • drew

    Read this article: The Real Reason for the “Cash for Clunkers” Suspension. The ex car salesman blog shares exactly why they stopped the program. Even reports that some sales managers are calling asking for the money back because they were denied the rebate when the final paperwork was submitted but their car was already ruined by dumping a solution in the engine. They now have no car. Scary. See: http://tinyurl.com/ml9sdo