My initial opposition to this program has faded because indeed it has been getting car sales going. Now, to the situation at hand.
6 days, a billion dollars, and 200,000 cars at least by my figures, and the cash for clunkers program is broke. Out of cash that it, not broken. The response? Lets find more cash to throw at the program:
Stabenow, a Michigan Democrat, and other lawmakers called for an infusion of taxpayer money to subsidize more new-vehicle purchases in the effort to revive dealerships and automakers while getting older, less fuel-efficient vehicles off the road.
Excerpt over. Why am I paying for someone's new car? I demand this program be halted immediately. It is not the government's place to buy people new cars. The billion dollars isn't used up though:
The administration’s reports on clunkers applications from dealers didn’t indicate that the funds were near exhaustion. The National Highway Traffic Safety Administration, which is running the program, said yesterday that 22,782 vehicles worth $95.9 million had been sold.
Excerpt over. Still, why should I be the one to pay for this? Until that question is answered it should not go forward.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aWKYBKED5EKI
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