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Showing posts with the label Cash for Clunkers

Bail me out.

WASHINGTON – The White House warned Monday that the "cash for clunkers" program, already zooming toward a quarter-million trade-ins with the initial $1 billion in rebates, could sputter to a stop by Friday unless the Senate quickly approves $2 billion more. Apparently, what I was missing was that the "clunkers" are being sold as scrap, crushed and removed from civilization. May I suggest that we add Hummers, Yukon's and any vehicle larger than a swimming pool to the list? Bucks for Behemoths . Everything needs a catchy name to lure-in the general public. Like so many other things, our government didn't properly read the public and found out quickly that people had old vehicles sitting in what we call "The Family Museum" out in the back yard - on two tires, rusted and apparently not worth more than the $4,500 that the Feds were going to give them. The program is running out of money. Go figure. Hurry up and get yours. Meanwhile, I'm sitting...

Am I missing something here?

I'm squinting my eyes trying to understand the government's " Cash for Clunkers " program, which implies that the government is giving money to consumers for trading-in their gas guzzling vehicles for more economic ones. But I wonder if it's doing anything besides helping sell cars. What happens to the "clunkers" that are traded-in? Aren't they merely re-sold to someone else as a "pre-owned vehicle" and put back on the road? If they're being crushed and sold for scrap metal, somebody needs to tell me, because I don't think that's part of the program. The government (our government) is spending $1 billion as of now to support the program, which they say has been wildly successful. I guess that means that it's helping the auto makers reduce inventory, sell cars and drive up consumer debt in the form of a new auto loan. That's nice, since the government (our government) owns two of the auto makers, and has given out enou...