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Am I the only one that is having a problem with a "1 Billion" dollar program being "nearly out of funds" when 95 Million dollars have been spent?!
If I asked for more money on one of my projects because I was 9.5% spent, I would (rightly) be considerd nuts.
40,000 purchases were completed and another 200,000 transactions were still in the process of completion (car already sold and dealer already submitted the claim). So if on average $4k were given per transaction that means 160mil paid for already, and anticipating another 800mil to be paid out as they are approved. I would definitely hesitate to promise clunker cash to people until I knew there's adequate fund to cover all of them, I'm sure folks would be pissed if they thought they were getting money but ended up not.
Am I the only one that is having a problem with a "1 Billion" dollar program being "nearly out of funds" when 95 Million dollars have been spent?!
There is some question as to how many vehicles have been sold under the CARS program, and thus, how much money has been spent of the initial $1 billion.
"It was unclear how many cars had been sold under the program. Sen. Debbie Stabenow, D-Mich., said about 40,000 vehicle sales had been completed through the program but dealers estimated they were trying to complete transactions on another 200,000 vehicles, putting the amount of remaining funding in doubt."
Well stated. I could trade in the wife's Volvo 960, but it runs as good as new and still looks nice. Cold a/c too thanks to wrenching on it a couple of weekends ago. She likes the car so... why do it?
Exactly - it's up to people to make good, rational decisions just like that one. But the way some people talk about this program, you'd think they were being forced to participate! And that's not the case.
Quote:
Originally Posted by Sayantsi
The whole point is to get cars with better mpg on the roads and cars with poorer mpg off the roads - it has nothing to do with how well maintained those cars are.
Actually, there are several objectives to the program, but the main motivation behind it (as was the case with similar programs in other countries) is to help the auto industry. A second objective is to replace older vehicles with more fuel efficient vehicles. And a third objective was to give consumers sufficient financial incentives to make the purchase of a new car affordable.
But fortunately, it's not up to the government to tell you whether you can afford to participate or not. It's totally up to the individual.
Quote:
Originally Posted by Donn2390
Another failed program by a failed Chicago gang of thugs....
You mean the majority of Congress is from Chicago?
If by "failed program" you mean a program for which enthusiasm and participation has exceeded the most optimistic projections, then I think we could do with a few more "failed programs" in this country.
I own an 82 Dodge Van which I would turn in but it's too old! What gives? I guess I'll just keep driving it at 15mpg and burning oil. Maybe I should circle the white house all day sometime.
15MPG!! WOW, I have a 2001 grandcaravan Sport that has never gotten over 14mpg and a 2008 grandcaravan SXT that to date has never gotten over 12.5 mpg That window sticker with 16MPG city and 27MPG hwy is manufacturers and government bullllllllll.
Tell me how exchanging 1/10 of 1% (.01%) of the cars on the road (in the US) will do ANYTHING for the environment. China ADDED more cars in one month than was exchanged here.
I didn't say it made real sense. I'm just saying that's a big thing with it, and it at least gives people their illusions.
I didnt understand what they expected in the 1st place... I mean people dont have jobs but YES lets trade in our cars to get car payments.. not at the top of my priority list!
Capitalism works best when debt is accomplished. It's about churning the economy and making money for big business, not about doing what's best for the individual.
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Mpg
