7/30/2009

Clunkers Cashed Out

Unless they somehow decide to expand the program, your contributions to your neighbors’ new car funds are already gone:

From Calculated Risk:

From the Detroit Free Press: Cash-for-clunkers program to be suspended (ht Basel Too)

The U.S. government will suspend the popular cash-for-clunkers program after less than four days in business, telling Congress that the plan would burn through its $950-million budget by midnight, several sources told the Free Press. … auto dealers may have already arranged the sale of more than the 250,000 vehicles that federal officials expected the plan to generate.

Well, that billion dollars didn’t last long. POOF! Seeing as how it was such a booming ’success’, they just might come and take some more of your money…

Posted: 7:45 pm

3 Comments »

  1. A billion dollars isn’t what it used to be.

    Comment by Fred — 7/30/2009 @ 8:37 pm

  2. Just think: the next guy who cuts you off might be driving a car that you helped pay for!

    Comment by David — 7/30/2009 @ 10:42 pm

  3. What’d I tell ya? They’re coming after more:

    White House officials and lawmakers were studying late Thursday how to keep alive the government’s cash-for-clunkers incentive program because of concerns the program’s $1 billion budget may have been exhausted after just one week.

    Comment by BMB — 7/31/2009 @ 6:36 am

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