Cash for Clunkers to end on Monday

Cash for Clunkers to end on Monday

www.msnbc.msn.com

The Obama administration plans to end the popular $3 billion Cash for Clunkers program on Monday at 8 p.m EDT, The Associated Press has learned.

Two congressional officials familiar with the plan say the Transportation Department will wind down the program that offers car buyers rebates of $3,500 or $4,500 for trading in older vehicles for new, more fuel-efficient models. The officials spoke on condition of anonymity because they were not authorized to speak publicly about the plan.

The Obama administration was set to announce details on Thursday.

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If anybody wants to trade in their clunkers for a new vehicle I suggest you do it now! Its too bad they end this program, I think its one of the way to stimulate the economy to encourage people to spend and spend and the money is spread and jobs are created. For example auto workers being rehired to meet demand for the new vehicles.

www.msnbc.msn.com
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Cash for Clunkers Hurts the poor


There was no sense in making this nor any sense in keeping it.

It was just dumb politicians, chimpanzees could have thought of something better.

Ending Monday? Naaaaaaaaah! They'll come up with some more money. Afterall .. look at what the gov't is getting out of the program. YOUR COMPUTER, and everything on it, to do with as they please.

The Real Reason Behind the Cash for Clunkers Program

Soooooo, what about all the dealerships that fronted the money and are now being left to eat the loss? On our local radio, they reported some dealerships are being denied their money, because a form was filled out incorrectly.

Wat happened to all that positive reporting of success by the media? They were just trying to make Obama successful I guess.

There is no way that the program has already gone through another $2B. What gives? I guess we will find out when the "official" announcement is made. Maybe the $4500 will become a tax deduction rather than a reimbursement to the dealership.

Actually Dr. Paul introduced his own version as well

My bill HR 1768 provides tax credits to people trading in used cars for new cars with better fuel economy. There is a big difference, in my mind, between letting people keep their own money versus giving them someone else’s. It is clear which one a free and fair society would choose. Not only that, but my bill would not have required working, serviceable cars to be destroyed for scrap metal.

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Makes much more sense.

But I think the auto industry should have opposed this from the beggining.

reply to post by deltaboy


No surprise there. It gives the government a means to save face, when the truth is, dealerships are pulling out of it because they can't get reimbursement and are getting stuck with the cost. The program is falling apart, and not just because Congress is too stupid to allocate enough money.

And remember, folks, these are the same government imbeciles that want to run your healthcare.