RIP: Cash for Clunkers is gone.
UPDATE: After many contradictions and questions, the government resurrected the clunker program today, promising to waste another $2 billion of non-existent money to keep the program afloat. While Obama is touting this as success, some suggest that the clunker debacle may spell more trouble for socialized medicine:
The Obama administration is attempting to use the fact that the program was popular with consumers as evidence that it was a “success,†but that only serves as evidence of government incompetence. Unfortunately for Obama & Company, many people are aware that sometimes “too successful†is far more expensive than “didn’t work at all.†If Apollo 11 had been “too successful†by the Obama administration’s definition, the crew would have overshot the moon, and they’d be dead and halfway to Alpha Centauri by now. “That’s one small loss of men, one giant leap for bureaucracy.â€
The fact is that Cash for Clunkers could not have lasted for very long in its present form even if the government didn’t run out of budgeted taxpayer money, for reasons I outlined in part here.
Here’s to one more highly effective, competently run government program:
WASHINGTON (AP) – Congressional officials say the government plans to suspend the popular “cash for clunkers” program amid concerns it could quickly use up the $1 billion in rebates for new car purchases.The Transportation Department called congressional offices late Thursday to alert them to the decision to halt the program, which offered owners of old cars and trucks $3,500 or $4,500 toward a new, more fuel-efficient vehicle.
The congressional officials spoke on condition of anonymity because they were not authorized to speak publicly.
Through late Wednesday, 22,782 vehicles had been purchased through the program and nearly $96 million had been spent. But dealers raised concerns of large backlogs in the system, prompting the suspension.
Dang. That didn’t last very long at all. I wonder if you think these same geniuses can do better running national health care?!
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