Friday, July 31, 2009

"Clunkers" Program Over With--You Read It Here First

*Cough* We told you so.

Congressional officials say the government plans to suspend the popular "cash for clunkers" program amid concerns it could quickly use up the $1 billion in rebates for new car purchases.
The Transportation Department called congressional offices late Thursday to alert them to the decision to halt the program, which offered owners of old cars and trucks $3,500 or $4,500 toward a new, more fuel-efficient vehicle

We were off by one day--it is Friday, not Saturday.


capper said...

Um, the news this morning is stating that the White House said it is still going. Do try to keep up, old boy.

Neo-Con Tastic said...

I like the quote on Drudge:

"Car dealer: 'If they can't administer program like this, I'd be concerned about health insurance'..."

Amy said...

The fact they couldn't accurately project this, or that they ran out of cash in a week or so, is telling to how they manage programs they sponsor, capper.

It doesn't matter what the White House says, if they have to "evaluate all options to keep the program funded" (as Gibbs said today), mismanagement was rampant.

Shoebox said...

Yeah, continuing to run and how did they solve the fact that they are incapable of developing demand curves? They throw more money at it! Makes you feel really comfortable about the $1.6 trillion for health care, doesn't it?

Disgruntled Car Salesman said...

Capper, dealers have been instructed to stop. Until it passes congress, we aren't delivering anymore of these deals. My dealer principal isn't interested in holding the bag for $4,000 a copy. Quite frankly, until we get word from someone besides Robert Gibbs, we aren't doing squat.