Cash For Clunkers Will End On Monday

Guess the dealers who are opting out of the "cash for clunkers" program aren't missing that much: U.S. DOT Secretary Roy LaHood announced the program will end on Monday at 8 p.m. LaHood said, "This program has been a lifeline to the automobile industry, jump starting a major sector of the economy and putting people back to work. At the same time, we’ve been able to take old, polluting cars off the road and help consumers purchase fuel efficient vehicles," and added, "We don't want to run out of money. And I want to be able to substantiate what I'm saying here. If you do a deal with us, you submit the paperwork, you will be paid." The program was originally budgeted with $1 billion of government money, but was so successful that the government put another $2 billion into the program.

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By Jen Chung in News on August 20, 2009 5:55 PM

Comments [rss]

blondeinthecity

They put all this money into the program, but they aren't paying it out to the car dealers quick enough. A lot of businesses are turning people away because they are afraid they won't get the refund from the government... and with good reason!

valeriob

Lulz

ides_of_march

Obama is the biggest clunker around. America, you bought yourself a real lemon last November.

[mis]inheritance

That money could have been spent in better ways. Quite frankly, retail is a much larger part of the economy that auto sales.

SP

I'd much rather help you buy a new fridge than, say, spend a trillion dollars on an illegal war.

Bottomless Chips

Non-sequitur.

Not to mention, I want to bring all the troops home and close our 700+ oversea bases. So I'm with you on that.

Mr. Shankly

Agreed. I'd like to see the European welfare state survive supporting more than a token military.

Military, I. banks, CforC, Medicare....pork is pork.

glennQNYC

Shit- Why don't we just eliminate our military altogether! /sarcasm

[mis]inheritance

Maybe no ALL 700. But generally speaking, I can see from where you are coming.

Bottomless Chips

What's next? Inefficient refrigerators? Computers? I could use a new fridge in my place, but I'm only going to buy one if someone else helps pay for it.

Politburo

You're in luck, then.

There will be an energy star rebate program for appliances coming up soon.

jaycjay

If there were a struggling U.S refrigerator industry employing hundreds of thousands of people, and if refrgerators cost about 100 times more than they do, that might happen.