Cash For Clunkers Dies on Friday
Cash for Clunkers, also known as CARS or C4C, has been so successful that the billion-dollar government program is already out of cash, and might end this Friday. August 7th, 2009 may be the last day for people to cash in their old beater for a $4500 voucher towards a new, fuel efficient auto – unless the Senate OK’s another $2 Billion towards CARS.
Senate officials want to keep the program afloat – but many Republicans are against the move, claiming it was “a model of government inefficiency and out-of-control spending.” According to Miami Herald: Dealers are increasingly worried that they won’t be reimbursed under the program. NADA Chairman John McEleney warned that until further definitive guidance on the availability of funding is provided by the administration, dealers who accept additional clunkers’ deals may face a risk that they will not be reimbursed.”
Cash For Clunkers is a ridiculous program and as far as I am concerned it cant die soon enough. The government buys the auto companies…then gives incentives to consumers to buy cars from the companies they own. It is just stupid.