The U.S. government's wildly popular "Cash for Clunkers" program was designed to help the struggling auto industry by giving owners of old cars money toward the purchase of a new, more fuel-efficient vehicle. But now the program appears to be running out of gas. It looks as if the money to buy up used cars has already been used up.
A perfect example of this administration's incompetence in handling money. This is what happens when you spread the wealth.
Reportedly, one Billion dollars of hard earned tax payer money was set aside for the clunker program and in just one week, 93 million of it has been redistributed. That means that in a little over 10 weeks, the money will be gone! Poof!
The federal government failed to think this program through. As usual, it will be far more expensive than they thought it would be.
Meanwhile I see how much the car industry has spent in advertisements citing this program in order to get people out to the lots. The advertising campaign is still in full swing, even though what they are advertising is no longer being honored by the government. I don't know the amount that all of the combined car dealers and the rest of the auto industry has spent marketing this program, but it now looks like money wasted. My guess is the amount is substantial. Not to mention the cost that the industry has already spent in order to implement the program. They are not allowed to resell the clunkers. They have to destroy the engines and drive trains, and otherwise prepare them for disposal.
Can you imagine what will happen if Obamacare passes both the House and Senate? They can't even run this clunker program, imagine them in charge of your well being!!
As usual, the federal government has shown itself incompetent and short sighted. They can't do anything right. They need to go back to doing what they were meant to do: ensure our liberty and freedom and defend this nation from foriegn aggressors. They have utterly failed at everything else they have ever touched.
Don't touch our healthcare unless you can prove you are highly competent. We will settle for nothing less.