Friday, July 31, 2009

'Cash For Clunkers' Broke After Just One Week?

So says FoxNews:

WASHINGTON -- The White House said Thursday it was reviewing what has turned out to be a wildly popular "cash for clunkers" program amid concerns the $1 billion budget for rebates for new auto purchases may have been exhausted in only a week.

Transportation Department officials called lawmakers' offices earlier Thursday to alert them of plans to suspend the program as early as Friday. But a White House official said later the program had not been suspended and officials there were assessing their options.

"We are working tonight to assess the situation facing what is obviously an incredibly popular program," White House press secretary Robert Gibbs said of the Car Allowance Rebate System.

"Auto dealers and consumers should have confidence that all valid CARS transactions that have taken place to date will be honored."

Gibbs said the administration was "evaluating all options" to keep the program funded.

Gee imagine that!!! When you give taxpayer freebies away, people take advantage of it. So what we now have is that people who are in better financial straits and would typically buy new cars every couple of years are now faced with their tax dollars paying to replace piece of shit cars for people who otherwise couldn't have afforded them. Of course the people that are replacing their piece of shit cars for the most part don't pay taxes so why would they care how much money this program costs the tax payers?

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