Cash for clunkers runs out of money … after one week; Update: Feds scramble to save program

posted at 9:56 pm on July 30, 2009 by Allahpundit

Unlike pretty much every other Hopenchange economic policy, not only did this one work, it worked better than expected. And yet, I can’t help thinking there’s a lesson in the fact that a centrally planned program budgeted to run through the end of October went bust in, er, seven days. That’s some miscalculation — not unlike the miscalculation that promised unemployment no higher than eight percent once we pinched that $787 billion loaf known as the stimulus. And naturally, the program came buried in so much bureaucracy and paperwork that some dealers gave up on it despite the amazing business it drummed up.

Ah well. I’m sure none of that will happen with national health care.

The program — aimed at giving at boost to the U.S. auto industry — was supposed to expire at the end of October. But in the one week since it took effect, it appears to have run dry of the $1 billion allocated to it, aides said Thursday.

The White House will need to decide whether to push for more money at a time when it’s also pushing an ambitious and expensive domestic agenda — or let the program fade after it was touted as a way to help Detroit while improving the environment.

One Michigan Republican, Congresswoman Candice Miller, has alreayd come out in favor of extending the program, saying in a statement that “There can be no doubt that the Cash for Clunkers program is a complete success given the fact that the entire $1 billion allocated to the program was expended in less than a week.”

She called the program “simply the most stimulative $1 billion the federal government has spent during the entire economic downturn.”

Imagine how stimulative it would be if it wasn’t limited to fuel-efficient cars, per the left’s green agenda, but to any current model. Actually, though, it really isn’t limited: Via the boss, check out Cato’s easy peasy scheme to turn C4C into free money which you can use to buy the clunker or muscle car of your dreams. If they end up extending the program, I’m totally getting that ‘Vette I’ve always wanted. Thanks, Barry!

Update: Looks like I might be getting that ‘Vette after all: “Although key members of Congress were notified by the Secretary of Transportation Thursday that the program would run out of money at midnight, sources said ‘Administration and Congressional officials are working to keep it up and running.’”


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This is perfect proof you can’t put government in charge of anything.

Dealerships are going to be screwed b/c the gov’t won’t accept many of these sales and the auto industry will lose billions. Then consumers who haven’t picked up their cars will be pissed at the dealership and then the gov’t.

People are going to hate Obama more.

lavell12 on July 30, 2009 at 10:39 PM

Gone already?

Let’s see the books and count the cars before we pony up another billion.

PattyJ on July 30, 2009 at 10:39 PM

Trade in Grandma for an undocumented worker. All parts to be destroyed.

Laura in Maryland on July 30, 2009 at 10:35 PM

Laura in Maryland:

Using Team Obama’s logic,in sending car parts of clunkers
to China,if the China story is accurate,then grandma’s body
parts should soon follow!!ahem:)

canopfor on July 30, 2009 at 10:39 PM

I’m totally getting that ‘Vette I’ve always wanted. Thanks, Barry!

Detroit bringing back a retro 2010 model of the 84 Chevette? I had just about given up hope!

Goody2Shoes on July 30, 2009 at 10:40 PM

Look at the Toyota ads still playing re: CFC at HotAir LOL, I hope Hot Air gets paid!!!

izoneguy on July 30, 2009 at 10:41 PM

Down here in Southern California……………

……… word spread like Montezuma’s Revenge that stupid Gringos were giving away money for cars that were stolen, and you could drive them back across the border and get cash.

These people in Washington, D.C. really don’t have a clue on what is actually going on in this country…………..

………. let alone, wipe their own as%es.

Seven Percent Solution on July 30, 2009 at 10:42 PM

Heh. Just saw a car commercial, advertising the “cash for clunkers” program. Someone needs to send them the memo. Sadly, every car company has built their advertising and marketing scheme around a program that doesn’t exist anymore. All that money down the hole. How’s that change working out for ya?

Weight of Glory on July 30, 2009 at 10:42 PM

How much cash can we get for that clunker Obama ?

William Amos on July 30, 2009 at 10:42 PM

How long before Barry’s numbers go into the 30’s?

Knucklehead on July 30, 2009 at 10:08 PM

Not soon enough

proudteadrinker on July 30, 2009 at 10:42 PM

It has to have been registered and insured for the past 12 months to the person collecting the bonus.

thomasaur on July 30, 2009 at 10:11 PM

It would take about 3 minutes to fake a registration and insurance document showing I was the rightful owner these past 12 months if I so chose.

angryed on July 30, 2009 at 10:43 PM

canopfor on July 30, 2009 at 10:39 PM

Followed by a sale to the NJ black market. Yikes!

Laura in Maryland on July 30, 2009 at 10:43 PM

Rather than cash-for-clunkers & cap-n-tradetax & other complicated strategies for getting us to use less gas, why don’t they just raise the federal gas tax?

jgapinoy on July 30, 2009 at 10:43 PM

Brat4life on July 30, 2009 at 10:37 PM

I just caught part of her chat with Greta. . .Thought
she said it worked well in. . . France . . .WTF France

Texyank on July 30, 2009 at 10:43 PM

Every single Liberal idea,just keeps snowballing,
like 6 degrees of separation,or sumpin like dat,
jus sayin!!

canopfor on July 30, 2009 at 10:44 PM

It would take about 3 minutes to fake a registration and insurance document showing I was the rightful owner these past 12 months if I so chose.

angryed on July 30, 2009 at 10:43 PM

You sound like a person who would be a valuable associate in the coming years.

thomasaur on July 30, 2009 at 10:45 PM

Of course it ran out of money in seven days, all they did was announce that junks are worth 4500 bucks now. How many dealers provided the “trade-ins”? They just went down the junk yard and bought 20 junkers.

Rocks on July 30, 2009 at 10:46 PM

Federal government buys working cars and destroys them. Somehow the active destruction of working property is better for the economy, environment and social justice. I’m still stumped by the entire nonsense of it.

Resolute on July 30, 2009 at 10:46 PM

It would take about 3 minutes to fake a registration and insurance document showing I was the rightful owner these past 12 months if I so chose.

angryed on July 30, 2009 at 10:43 PM

That’s the same thing I thought when I saw those requirements. All you’d need is a computer and a scanner, and you could print up all the phony documents you wanted.
The illegals do it all the time. They know nobody ever actually verifies the authenticity of this kind of stuff.

AZCoyote on July 30, 2009 at 10:50 PM

Rocks:

They have to have had title for a year to be in the program. So they can not just go to the junk yard.

Terrye on July 30, 2009 at 10:51 PM

AZCoyote:

You would not have to do that even. All you would have to do is find someone who has a junker and get them to do the trade in…are there any restrictions on resale? I mean as long as they pay off the bank it is okay right?

Terrye on July 30, 2009 at 10:53 PM

My Democrat congressman is a clunker. Can I trade him in?

TN Mom on July 30, 2009 at 10:56 PM

It feels so great to know that my government, whom is supposed to look out for my welfare, is taking my tax dollars to purchase cars that are in good working order, only to destroy them and give somebody a rebate on a new car.

Did I wake up in some kind of alternative leftist universe?

Can I go home now?

….and get my gun?

cntrlfrk on July 30, 2009 at 10:57 PM

Can I trade my H2 for another Escalade??? If so, I’ll save enough to istall a paxton supercharger!!!

marklmail on July 30, 2009 at 10:34 PM

HEH!! As soon as the come up with a vehicle that will run on used Peter Built differential oil and pureed car tires I’M IN LINE FOR THAT!!!

BigWyo on July 30, 2009 at 10:58 PM

Lower the price and they will come. Economics 101 Price/demand curve.

diogenes on July 30, 2009 at 11:00 PM

Folks you have no idea what a cluster fark this program is. They haven’t even figured out how to register all of our nation’s car dealers to participate, much less grasp how to verify all 250,000+ cars a) qualified b) actually did have their engines scrapped.

This is what happens when Lofty Statist Visions of Paradise meet the harsh realities of bumbling government bureaucrats who work four days a week and have no incentive to do things right or efficiently. There is no better cautionary tale for what would happen with health care. NONE.

Let’s start at the beginning. The Democrat aides (who after all run our federal government since no elected official writes or reads) in Congress decide the simple and successful template used in Germany wasn’t good enough. We had to be clever. Thus emerged a convoluted, ill-reasoned plan loaded with levels of red tape that are inconceivable.

The brilliant Department of Transportation had about two people trying to slap this together… until they realized they were running out of time to figure out some DEFCON 4 level of double-blind dealer verification to ensure the right dealers signed up. Thousands of dealers still aren’t signed up. But because Obama touted this program so regularly before it was ready, thousands of consumers and dealers signed off on deals not knowing if they’d qualify for the cash.

Let’s talk about scrapping the cars. It’s true the vehicles’ engines needed to be fed some silicate compound to kill the engine. The rest of that parts could be sold for scrap. But, gee, nobody thought of WHO would actually confirm the engines were destroyed or who might be auditing junk yards to make sure they weren’t laundering usable old cars.

On to the financial squeeze placed on dealers. Car retailers had to send consumers off with their new cars while waiting for the government to approve the transactions qualified, the paperwork was filled out right and the old engines were destroyed. Well we see today how well that process went less than a week into it. In the best case scenario, dealers would be waiting on unmotivated bureaucrats to bless their transactions … meaning dealers would be out thousands of dollars for weeks at a time. Add that up and it becomes real money at a time when dealers are hurting.

Finally a conspiracy theory. There is little chance that 250,000+ qualified cars sales came together in a week … or even four weeks. Those who’ve followed the unfolding of Government Motors may recall that thousands of dealers we cut off and orphaned. Some of those still I have GM or Chrysler cars to sell. It’s not too much of a stretch to think these mistreated dealers simply stuffed their unsold inventory through this Obama pipeline gambling the government would never be able to figure it all out.

In short Americans, this is a classic example of American socialism’s perils. Pay heed. Allah’s wrong. This wasn’t wildly successful. It’s a classic Obama White House/congressional overreach meeting an overwhelmed and uninspired govenment bureaucracy. This is a relatively benign case. If this kind of incompetence gets ahold of your health care we are all screwed.

August Horch on July 30, 2009 at 11:00 PM

cntrlfrk on July 30, 2009 at 10:57 PM

It’s the classic Bastiatan “Broken Window” economics of brainfree Marxists everywhere.

TMK on July 30, 2009 at 11:00 PM

Scrapped already and it doesn’t go into effect until August 1st. Who coulda seen this coming?

OT: was this just a ploy to get Toyota and Honda? Think about it, trading in “American gas guzzlers” for fuel effecient foregin cars? Now these dealers may be out tens of thousands of dollars, possibly forcing some smaller Toyota Honda dealers to close and force buyers into GM cars? Just asking.

milwife88 on July 30, 2009 at 11:04 PM

Terrye on July 30, 2009 at 10:53 PM

You’re right, and that’s probably what a lot of those people buying the new Lexuses were doing. Get your teenager (or brother-in-law or whatever) with the beat-up old car or truck to buy the Lexus with his trade-in (and your money for the new car), and then you just switch the names on the title to the Lexus right after the relative drives it off the lot. Even if you have to pay the relative $1,000 for the use of his trade-in, you’re still ahead $3,500.

AZCoyote on July 30, 2009 at 11:07 PM

I maybe the only person here whose career it directly effects. I am a salesman at a local Dodge dealership, and this Cash For Clunkers thing has been awful for me. It has been so confusing, the red tape is insane. The dealership I work at didn’t receive the green light to start the program until Tuesday and at around 8pm tonight we were told to stop. Problem is we already promised customers and took some diposits for the car sales. Sure it brought in new customers for us but about 9 of 10 of them didn’t qualify for the program, I’m still confused as a salesman about this program. Nobody knew when it started and nobody knows it if is over.

lavell12 on July 30, 2009 at 10:34 PM

Ha Great! Cash for Clunkers bust in less than one week what could go wrong with healthcare for Geesers?

But, Like Pinnochio said, like he has always said, looking back, that this will be revenue neutral, let Pinnochio be real clear he will not sign a bill that adds to the debt so in order to insure all theose illeagl aliens and college kids that don’t want insurance, when granmdma comes in for a backache we will just abort her. Abortion in the 265th trimester is just fine as long as it is good for the young and Democrats!
Grandma didn’t know when it started but for her it was most definitely OVER!

Will aunt Tootie be cover under Pinnochio’s abort-a-grandma healthscare plan?

dhunter on July 30, 2009 at 11:15 PM

lavell12 on July 30, 2009 at 10:39 PM

Is that possible?

jdkchem on July 30, 2009 at 11:16 PM

…not only did this one work, it worked better than expected.

Apparently, some people have forgotten the inconvenient fact that GM was losing money on every car sold BEFORE they started giving an additional $4,500 discount.

The only bright to this is that the dealers who “luckily” got to keep their dealerships because they contributed to the DNC are all going to get royally shafted because their mountains of paperwork didn’t get submitted until after the rebate money was long gone.

logis on July 30, 2009 at 11:26 PM

Now I know why Congress Critters and Senate Scum won’t sign onto the Pinnochio “Healthscare for Geesers” or “Drag in Grandma” plan.

The House would only have about 200 members and the Senate only about 15 after the clowns walked in for a hemroid and got aborted!
Bye, bye Dodd, Frank, Kennedy, Byrd, Grassley, Spinchter, Kerry, Rangel, Murtha, Reid, Harkin, McCain,….

dhunter on July 30, 2009 at 11:26 PM

Cash for clunkers. A great idea. A nation swimming in debt, offers money, it has to borrow, to a bunch of people to trade in their old (and most likely already paid for) cars and buy new ones, most likely going into debt themselves to afford the balance after the cash for clunkers rebate.

Then of course think of all the landfills these cars will fill.

flyfishingdad on July 30, 2009 at 11:26 PM

I’m totally getting that ‘Vette I’ve always wanted. Thanks, Barry!

Betamale wants a Chevette?

cs89 on July 30, 2009 at 11:27 PM

But, gee, nobody thought of WHO would actually confirm the engines were destroyed or who might be auditing junk yards to make sure they weren’t laundering usable old cars.

That’s one of the (many) reasons why these types of government programs are so rife with fraud. Even when they require some sort of verification, it’s often just a piece of paper — something that can be easily faked. And the gov’t rarely has the manpower (or even the interest) to check the authenticity of the paperwork.

Remember the amnesty bill, which provided that only illegal aliens who’d been living in the U.S. for at least 2 years would be eligible? How was the gov’t going to verify that the illegals who applied for amnesty had actually been living here 2 years: the illegal had to submit a sworn affidavit (and nothing more). So the illegal who snuck across the border yesterday writes out a statement swearing that he’s been living at an address in Tucson for 2 years, then he signs the statement and has a notary witness his signature. Presto! Now he has “proof” of his 2-year residency and can apply for amnesty. And we didn’t have to worry that illegals might lie in their affidavits, right, because illegals wouldn’t dare break our laws . . . .

AZCoyote on July 30, 2009 at 11:28 PM

The requirement that a perfectly functional used car had to be destroyed if the person got cash for clunkers money on their trade was stupid anyway. Let the dealers sell the used cars for market value. People need cheap used cars too…they could require that the used cars have current smog reduction systems in place or something.

funky chicken on July 30, 2009 at 11:35 PM

Our green program involves ruining an engine and crushing the car, not recycling? how wasteful.

workingforpigs on July 30, 2009 at 11:35 PM

UPDATE: Now they are saying that they will NOT stop the program. The story is at CNBC.com.

Weight of Glory on July 30, 2009 at 11:36 PM

Obama is the CIC- Clunker-In-Chief.

profitsbeard on July 30, 2009 at 11:42 PM

Of course this sold more cars.
Next,why don’t I just ride around town and hand people a check who drive old rust buckets instead of going through the trouble of the government taking my money and then handing it out.

Most of my accounts have more than doubled their sales this month with this program,but everybody I speak to knows that they are basically paying people with our tax dollars to go out and buy a new car.
If this is Obama’s idea of turning the economy around,why didn’t he just divvy up that stimulus money and send everybody a check.At least we could have gotten some of our money back and people would have used it to pay bills and buy goods….you know….actually stimulate the economy.

Baxter Greene on July 30, 2009 at 11:44 PM

“There can be no doubt that the Cash for Clunkers program is a complete success given the fact that the entire $1 billion allocated to the program was expended in less than a week.”

Well … yes …. the program is successful in spending government money. You can be even more sucessful if you took that $1 billion to the Empire State Building in $5 bills and threw it out the window for people to collect as it came down. You would have allocated the money and with less overhead.

So, other than spending money, what really was the program successful at? What larger goals did it achieve?

Liberals have this amazing blind spot in that they evaluate the success of government programs by how much money was spent, not by how much good was done.

PackerBronco on July 31, 2009 at 12:12 AM

How much of this $illion do you think will have gone to fraud and corruption?

Griz on July 31, 2009 at 12:12 AM

Everyone, from now on, let’s call Obamacare the Healthcare for Clunkers program and Cap and Trade the Crap and Trade for Clunkers program.

joeyb on July 31, 2009 at 12:14 AM

the money for clunker cars maybe be gone but the real clunkers are still left in the WH. enough already. impeach obama and send him to the crusher

hawkman on July 31, 2009 at 12:15 AM

Dealers according to what I have been told, were required to junk the car. Many drained the oil, then ran the engine until they locked up. That was required before the car would even qualify for funding.

As we speak there are dealerships with junked cars sitting on their lots, that may never see the money that they were promised under the plan.

thmsmgnm on July 31, 2009 at 12:20 AM

The CFC program just put thousands of poor credit risks into debt. Sound familiar?

We’ll see how these car loans perform in the next 24 months.

toliver on July 31, 2009 at 12:32 AM

Okay. $1 Billion of funding at $4,500 per ‘cash for clunker’ = 222,222 (two hundred twenty two thousand-two hundred twenty two) brand spanking new cars were sold in one solitary week?

In one solitary week, Two hundred twenty two thousand-two hundred twenty two people (more or less) that were previously driving a gas guzzling ‘clunker’ can afford payments on brand spanking new cars even after the $4,500 government gift?

Dayam.

SilverStar830 on July 30, 2009 at 10:27 PM

Yeah…highly unlikely.

And I looked into it, but both our vehicles have higher blue book values than $4500. Since the dealers have to scrap the trade-in, you get only the “cash for clunkers” money + the value of the scrap weight.

I’m just not sure how many folks owned craptacular gas guzzlers worth less than $3500 or $4500 and could turn around and afford a new car.

funky chicken on July 31, 2009 at 12:35 AM

thmsmgnm on July 31, 2009 at 12:20 AM

sounds like a teachable moment to me…

funky chicken on July 31, 2009 at 12:37 AM

These are the same idiots who want to say whether you live or die.

Okie dokie………….

ORconservative on July 31, 2009 at 12:45 AM

funky chicken on July 31, 2009 at 12:35 AM

My guess is some dealers who had a bunch of cars ready to go to auction decided to do a little date changing on the paperwork and take the guaranteed cash.

Ronnie on July 31, 2009 at 12:51 AM

I wanted to trade in my son’s 93 Camry and get him a new car, but the milage was too good to qualify.

I read this yesterday.

In some cases, car buyers say, dealers are backing out of sales they’ve already made because the EPA changed the fuel economy figures on their trade-in. “My wife just received a call from the sales manager saying that our clunker doesn’t qualify anymore, and that we could either pay the extra $4,500 or return the new car (and get our old car back),” a car buyer wrote Tuesday on a message board at the Edmunds.com automotive Web site.

full article here:

http://autos.yahoo.com/articles/autos_content_landing_pages/1030/clunker-confusion-mpg-figures/;_ylc=X3oDMTFkNnJla280BF9TAzI3MTYxNDkEc2VjA2ZwLXRvZGF5BHNsawNjbHVua2VyLWNvbmZ1c2lvbg–

artchick on July 31, 2009 at 12:54 AM

dhunter on July 30, 2009 at 11:26 PM

Bye, bye Dodd, Frank, Kennedy, Byrd, Grassley, Spinchter, Kerry, Rangel, Murtha, Reid, Harkin, McCain,….

My Sen. Grassley (R)Iowa is doomed too? What the frick?!

Goody2Shoes on July 31, 2009 at 1:00 AM

So Uncle Sugar bought $1,000,000,000 worth of wheels and had them turned into $10,000,000 worth of scrap? And they are working on health care? What could go wrong?

Limerick on July 31, 2009 at 1:47 AM

Obama lied, my Yugo died.

TexasJew on July 31, 2009 at 2:22 AM

The money isn’t gone. They only spent $96M of the $1B. They’re probably panicking because they might be out of work themselves in 10 weeks at this rate. But it was supposed to run out. It wasn’t intended to be a permanent program. They are looking for $4B now so they can stretch the job out for a year or so.

As usual the government is the biggest clunker in this.

virgo on July 31, 2009 at 2:31 AM

Well, here, folks, let me get out everyone else’s checkbook and cut you some checks for your “clunkers,” to help you buy new cars.

Kralizec on July 31, 2009 at 2:41 AM

She called the program “simply the most stimulative $1 billion the federal government has spent during the entire economic downturn.”

Well, that nails it. If $1 billion was good, $450 billion would just be that much better! We’ll get this economy started if we’ve got to sell every person in America 7 cars. Don’t worry, we’ll finance them for you, too. Just sign everything away … or else.

progressoverpeace on July 31, 2009 at 5:01 AM

Heck, i’m simply surprised that they even caught how much it was costing before it went over budget. That’s the eye opener.

ted c on July 31, 2009 at 5:44 AM

So now we are going to have a car bubble. I wonder how many can make the payments on their new cars.

tomas on July 31, 2009 at 6:36 AM

Which means,its a killshot for the used car parts market!
Team Obama’s brilliant forward thinking once again!!
canopfor on July 30, 2009 at 10:04 PM

It’s a kill shot for much more than just that. How about the poor family that can only afford a clunker? Now they can’t get one coz they’re all to be crushed.The turn over of dollars as a car is repeatedly sold off,is a considerable part of our economy.
Also the 4500 is coming out of all our pockets without adding any value to the economy.
Send a boy to do a man’s job……………….

oldernwiser on July 31, 2009 at 6:44 AM

If a private company did this, how many lawsuits and congressional hearings would there be? How many investigations and fines would they be subject to?

How many customers would they lose?

But the government does it? TFB. That’s why government should never be allowed to distort markets with its dictatorial meddling.

RadClown on July 31, 2009 at 6:55 AM

My in laws took advantage of this and bought a new, massive Ford pickup. They thanks me and my parents for helping buy his car through the Obamarama care sale!

It was cute. I’m pretty sure they paid cash for the new truck, rich folk that they are. They talked with a few other people who did this and the majority of them were upper middle class/upper class folks who got the deal. Interesting…

Mommypundit on July 31, 2009 at 7:02 AM

Is there anything this government can get right?

Keemo on July 31, 2009 at 7:53 AM

Gee I could never see this happening to healthcare. $1 trillion over ten years and after 6 months…. errr we ran out of money. DUHH

ouldbollix on July 31, 2009 at 7:53 AM

Off Topic:

Have you noticed that the Government Controlled Media stopped reporting news on the wars in Iraq and Afghanistan since a Democrat is now in office?

Keemo on July 31, 2009 at 8:01 AM

How long before we hear of a lawsuit or two??? I can see some guy about ready to drive off the lot and the salesman comes back and says,, “Oh, sorry, we can’t do that now. They just ended the program. We need another 4500.”
Well,, that’s not what the sign said!
Think of all the advertising dollars that were just spent by these dealerships. That’s all we’re hearing around here are cash for clunkers commercials and I am sure they had these commercials set to go for many more weeks.

JellyToast on July 31, 2009 at 8:02 AM

Gone already?

Let’s see the books and count the cars before we pony up another billion.

PattyJ on July 30, 2009 at 10:39 PM

DAMN RIGHT!!!!!!! This “out of money in week” baloney has a real bad smell to it. It smells like fraud! Call me skeptical but I’M SKEPTICAL!

Show us the books! Count the cars!

ExpressoBold on July 31, 2009 at 8:25 AM

“Bureaucrats”

Dr Evil on July 31, 2009 at 8:26 AM

Have you noticed that the Government Controlled Media stopped reporting news on the wars in Iraq and Afghanistan since a Democrat is now in office?

Keemo on July 31, 2009 at 8:01 AM

They stopped the body count, too. Sorry to sound harsh but that’s exactly what it was.

ExpressoBold on July 31, 2009 at 8:27 AM

Aside from the insanity for paying someone $4500 for a car worth $500, this thing will hurt the “poor” the most. That’s because the floor of any car sold in the USA right now is $4500.

A car that would be sold for $1500 a month ago no sells for $4501. That’s because the owner of the car knows he can get $4500 for it at a dealership and so will not sell it for less.

So the teenager buying his first car, the guy working at McDonald’s who needs basic no frills get me from point A to point B transportation, just got priced out of buying their first car.

angryed on July 31, 2009 at 8:30 AM

So President Government promises to give everyone who wants it $4500 for trading in a “clunker,” formerly known as a car.

Naturally, millions of morons rush to collect, thinking they’re getting something for nothing. Program goes bankrupt in seven days.

NOW GIVE THE GOVERNMENT FULL CONTROL OVER EVERY CITIZEN’S HEALTH CARE!

Makes perfect sense if you’re an O-bot. For those with brains, however, this was as foreseeable as this morning’s sunrise (which the government no doubt will try at some point to take credit for).

Doing a helluva job up there, Barry.

Seriously. Why don’t you just outlaw business entirely?

They’re those evil profiteers providing goods and services for a price people are willing to pay who are the real “villains” and “incompetents” running our country into the ground.

Obama = the GOP’s stimulus program.

Good Lt on July 31, 2009 at 8:33 AM

So… when the deal falls thru, & the dealer wants the ‘new’ car back .. who pays to repair the motor in my clunker?

CaveatEmpty on July 31, 2009 at 8:35 AM

AP, you are hopeless.

not only did this one work

It did not work. It’s an epic failure because the libturds are very superficial. They didn’t think it through. Getting people to accept a social engineer program doesn’t equate to success even if all the parts work flawlessly from one end to the other, which this one did not.

A. They are going to run out of money
B. The program will be completely ineffective to its stated purpose. (See China and India for details)
C. They are swimming in so many old old cars they dunno what to do with them now.

Yeah, that’s working alright.

dogsoldier on July 31, 2009 at 9:06 AM

So they distroy the engines and crush the cars? What happened to our green progams president, does he not believe in recycling?

workingforpigs on July 31, 2009 at 9:11 AM

Here’s a good example of the “Car Salesman In Chief” and his crony Joe “Say Anything To Sell ” Biden, blowing smoke up the butts of the American People, as they have been doing for about a year now.
And Obama and his White House Mafioso going after the Senator from Arizona because he’s speaking out against the White House Mafioso and drawing a crowd.
It’s looking more like a train wreck in slow motion every day. With the Wicked Witch of the West flying around with her airborne monkeys threatening everyone with disaster if they don’t do things her way.

Cybergeezer on July 31, 2009 at 9:25 AM

1 billion dollars for CFC. “rebate” worth between $3500-4500 depending on car. Let’s say it averages out to $4K per vehicle. Simple math says that’s 250,000 cars sold under this program. In one week! I call B.S. Something stinks.

GrandmaP on July 31, 2009 at 9:30 AM

Allah,

You really are gulliable. Read this and note the date. You are going to tell me that in the space of ~9 days they burnt through a $1Bn? It is very hard to spend money that not checks have been cut for. C4C program has been a cluster f!@#$ from the word go.

Dr. Dog on July 31, 2009 at 9:31 AM

This is one aspect of the stimulus bill that actually worked. We should clap for that, anyway.

It was a wild success. They estimated 250,000 people would participate. Apparently, they got that one in days.

AnninCA on July 31, 2009 at 9:56 AM

I am on my 2nd Honda Accord, both of which were built in Ohio. I love it!

No doubt, economics should be a prerequisite to environmental studies in college.

budorob on July 31, 2009 at 9:59 AM

GrandmaP on July 31, 2009 at 9:30 AM

What I thought hearing it last night. Something is fishy.

JiangxiDad on July 31, 2009 at 9:59 AM

One dealership out here in CA (GALPIN)said they sold 100 cars with the C4C deal in just four days. Uh, that’s a STIMULUS! Something that worked RIGHT NOW!

Imagine that! IT worked, what to do? SHUT IT DOWN!

Let’s NOT put autoworkers back to work!
Let’s NOT put recylclers to work!
Let’s NOT generate sales taxes and license fees for States!

100 cars generated over $200,000 in taxes and fees from ONE dealership! Come on POLITICIANS, you found something that WORKED…. USE 10 BILLION MORE to make this happen

originalpechanga on July 31, 2009 at 10:00 AM

One side effect of this program is that it has dried up the pool of cheap used cars available from private sellers. Students and the poor who are lucky enought to have work this summer but can’t afford a new car or can’t get financing for a new car can’t find cheap wheels, because Uncle Socialist is paying $4500 for all clunkers. To the extent that used cars remain available from private sellers, the prices have gone up, thanks to Uncle’s $4500 floor.

james23 on July 31, 2009 at 10:04 AM

that it has dried up the pool of cheap used cars

All that in 4 days? LOL* Sorry, that sounds like a tall tale at this point.

AnninCA on July 31, 2009 at 10:08 AM

100 cars generated over $200,000 in taxes and fees from ONE dealership! Come on POLITICIANS, you found something that WORKED…. USE 10 BILLION MORE to make this happen

It sounds like the administration will try to do something to get more money for the program.

I agree with you. Good gosh, something actually worked!

AnninCA on July 31, 2009 at 10:09 AM

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