Cash for Clunkers Could Be Done at Midnight Tonight Cash for Clunkers Could Be Done at Midnight Tonight
Date posted: 07-30-2009
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DETROIT ? Transportation Secretary Ray LaHood has alerted key senators that the Cash for Clunkers program is expected to run out of money as early as midnight tonight.
Earlier rumors suggested that the Department of Transportation could make an announcement this evening regarding the status of the Clunkers program and how close the program is to running out of its $1 billion allocation.
If LaHood's concerns are correct, the DOT could announce the program has run out of money completely or could suspend it temporarily while deals in the pipeline are completed and an assessment is made of how much has been spent, Washington sources tell AutoObserver.com.
A DOT spokesman said no announcement is scheduled, but if an announcement is made, it would be posted on the Web site for the Car Allowance Rebate System (CARS).
From the start, the program called for a November 1 expiration or the depletion of the $1 billion in funding. It is clear the program will run out long before November 1 and could run out in a matter of days.
As of Thursday morning, the CARS Web site showed $779 million of the $1 billion remained. The roughly $220 million used represents transactions dealers have submitted for government reimbursement and administrative costs.
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148Beach Fanatic
Cash for Clunkers Could Be Done at Midnight Tonight Cash for Clunkers Could Be Done at Midnight Tonight
Date posted: 07-30-2009
STORY TOOLS
Digg this storyDigg this!
del.icio.usdel.icio.us
DETROIT ? Transportation Secretary Ray LaHood has alerted key senators that the Cash for Clunkers program is expected to run out of money as early as midnight tonight.
Earlier rumors suggested that the Department of Transportation could make an announcement this evening regarding the status of the Clunkers program and how close the program is to running out of its $1 billion allocation.
If LaHood's concerns are correct, the DOT could announce the program has run out of money completely or could suspend it temporarily while deals in the pipeline are completed and an assessment is made of how much has been spent, Washington sources tell AutoObserver.com.
A DOT spokesman said no announcement is scheduled, but if an announcement is made, it would be posted on the Web site for the Car Allowance Rebate System (CARS).
From the start, the program called for a November 1 expiration or the depletion of the $1 billion in funding. It is clear the program will run out long before November 1 and could run out in a matter of days.
As of Thursday morning, the CARS Web site showed $779 million of the $1 billion remained. The roughly $220 million used represents transactions dealers have submitted for government reimbursement and administrative costs.
The first of many government programs to run out of money.:angry:
SoWal Insider
The first of many government programs to run out of money.:angry:
I've read this may be an over reaching article. But if it's true, then they really just met their quota to get this money out to pick up car sales. This is one time that running out of money was due to the program being successful, not due to a shortage.
SoWal Insider
Your tax dollars at work. Jo Bob traded in his 93 ford for a 08 ford. Congrats to him. Is it cooler outside already? I think I feel something. (sigh) Strange though, I was looking through to Constitution the other day and didn't see anything about a right to a cheap American auto.
Edited
Meow
...when I saw this article, I immediately thought St. Joey was in charge. Here today, gone tomorrow!Banned
Your tax dollars at work. Jo Bob traded in his 93 ford for a 08 ford. Congrats to him. Is it cooler outside already? I think I feel something. (sigh) Strange though, I was looking through to Constitution the other day and didn't see anything about a right to a cheap American auto.
Since the Bush administration wiped their asses with it for eight years I'm surprised you could even read it.
Beach Fanatic
Since the Bush administration wiped their asses with it for eight years I'm surprised you could even read it.
how???
Beach Fanatic
Obama creates a government program to make it sound like he's really concerened about global warming and the likes but he didnt plan on people actually USING it.....This guy has NO CLUE what he's doing.....nor does anybody in his admin..
Beach Fanatic
Since the Bush administration wiped their asses with it for eight years I'm surprised you could even read it.
I doubt we have had a president follow the constitution since McKinley.
Beach Fanatic
[quoteI was looking through to Constitution the other day and didn't see anything about a right to a cheap American auto.][/quote]
Hmmm. Amazing what short memories folks have. Guess everyone has forgotten the humongous Hummer tax credit.
Hmmm. Amazing what short memories folks have. Guess everyone has forgotten the humongous Hummer tax credit.
SoWal Insider
[quoteI was looking through to Constitution the other day and didn't see anything about a right to a cheap American auto.
Hmmm. Amazing what short memories folks have. Guess everyone has forgotten the humongous Hummer tax credit.
I've never heard of that, maybe you could fill me in? Regardless, the cash for clunkers thing isn't a credit, it's a rebate program. The federal government is borrowing money to pay people to buy cars.
SoWal Insider
To keep it running, Obama is thinking of using the TARP!
Government's 'Cash for Clunkers' Program Runs Out of Gas Early - WSJ.com
What the heck does TARP stand for anyway? Maybe they should rename that to something more appropriate like 'GBOBM' ("grab bag of borrowed money").
Government's 'Cash for Clunkers' Program Runs Out of Gas Early - WSJ.com
What the heck does TARP stand for anyway? Maybe they should rename that to something more appropriate like 'GBOBM' ("grab bag of borrowed money").
Beach Fanatic
The Bush tax credit program for business owners that purchase large SUVS:
Fed Tax Break Encourages SUV Purchases - ABC News
A lot of small business owners apparently took advantage of that one and cheerfully used those vehicles for non-business purposes.
Fed Tax Break Encourages SUV Purchases - ABC News
A lot of small business owners apparently took advantage of that one and cheerfully used those vehicles for non-business purposes.
Banned
Since the Bush administration wiped their asses with it for eight years I'm surprised you could even read it.
So true.
Banned
To keep it running, Obama is thinking of using the TARP!
Government's 'Cash for Clunkers' Program Runs Out of Gas Early - WSJ.com
What the heck does TARP stand for anyway? Maybe they should rename that to something more appropriate like 'GBOBM' ("grab bag of borrowed money").
Bloomberg reported that the bill as of last month was 23.7 trillion dollars. The funny thing is that everyone thinks it is only 750 billion dollars.
What's it going to take to get people to wake up and realize that we are now living in a Country that is being bankrupted?
But the answer to your question is Troubled Asset Relief Program.
SoWal Insider
The house just approved an additional 2B for this program.
Beach Fanatic
The house just approved an additional 2B for this program.
Just crank the printers up again........We'll be fine as long as we dont run out of green ink
Beach Fanatic
Heard somewhere that the next program after cash for clunkers will be "Cash for the Elderly". Give um $4500 bucks and cut their healthcare. It may be called something else like Soylent Green or Assisted Suicide.
Moderator
[ame="http://www.youtube.com/watch?v=8Sp-VFBbjpE"]YouTube - IT'S PEOPLE![/ame]
Beach Lover
Just crank the printers up again........We'll be fine as long as we dont run out of green ink
Hold the phone??? You mean Obama gave us a measly $1 Billion Federal Government program that any of us could qualify for assuming we meet the specific criteria he outlined. The program ran out of funding after 31 days and 2x the original funding immediately gets released to keep the program alive. Phewww.....
Thank goodness Obama can gleam those "lessons learned" over a cold Bud Light and nothing like this will ever happen again Beach Fanatic
Heard somewhere that the next program after cash for clunkers will be "Cash for the Elderly". Give um $4500 bucks and cut their healthcare. It may be called something else like Soylent Green or Assisted Suicide.
As someone who has worked in aging, the way the right has tried to spin that part of health care reform actively angers me. EVERYONE over the age of 55 needs to sit down with their doctor and talk about what their wishes are for a plan for care and who should hold power of attorney for them if they are suddenly in a health crisis and unable to make those kinds of decisions on their own. Because if you don't and have sudden health issues, it gets insanely messy to sort everything out after the fact and you may end up in a situation where your real wishes are not known or respected.
And if you're under that age, you should still discuss with a loved on what your care plan should be if you survive getting hit by a bus.
SoWal Insider
The Bush tax credit program for business owners that purchase large SUVS:
Fed Tax Break Encourages SUV Purchases - ABC News
A lot of small business owners apparently took advantage of that one and cheerfully used those vehicles for non-business purposes.
The history of this is interesting. Typical of government incentives - you start with something small to help farmers buy tractors and fifteen years later dentists are using it to buy SUVs and hybrids.
I guess this serves as another example of how government, even when it tries to do something good, always ends up screwing up.
Beach Fanatic
As someone who has worked in aging, the way the right has tried to spin that part of health care reform actively angers me. EVERYONE over the age of 55 needs to sit down with their doctor and talk about what their wishes are for a plan for care and who should hold power of attorney for them if they are suddenly in a health crisis and unable to make those kinds of decisions on their own. Because if you don't and have sudden health issues, it gets insanely messy to sort everything out after the fact and you may end up in a situation where your real wishes are not known or respected.
And if you're under that age, you should still discuss with a loved on what your care plan should be if you survive getting hit by a bus.
Good point... and you could end up being the shoes of Terri Schiavo, with a barage of costly state and private legal teams battling it out while you are, unbeknownst to you of course, costing society tens of thousands to just keep you alive, in your otherwise dead state.
Beach Lover
As someone who has worked in aging, the way the right has tried to spin that part of health care reform actively angers me. EVERYONE over the age of 55 needs to sit down with their doctor and talk about what their wishes are for a plan for care and who should hold power of attorney for them if they are suddenly in a health crisis and unable to make those kinds of decisions on their own. Because if you don't and have sudden health issues, it gets insanely messy to sort everything out after the fact and you may end up in a situation where your real wishes are not known or respected.
And if you're under that age, you should still discuss with a loved on what your care plan should be if you survive getting hit by a bus.
Impossible to disagree with any of your points in regards to long term care/planning. But I will respectfully say this; We should not smoke, take illegal drugs, consume alcohol, overeat, avoid exercise, etc. as all is scientifically proven to be bad for your health. Our public school systems, provided by tax-payer $ for all, continue to teach these truths to children year after year. Yet millions of Americans are choosing to do all of the above at this very moment. I do not need to be counseled about any of this because my life and the choices I make/fail to make are my personal responsibility.
Edited
Beach Fanatic
As someone who has worked in aging, the way the right has tried to spin that part of health care reform actively angers me. EVERYONE over the age of 55 needs to sit down with their doctor and talk about what their wishes are for a plan for care and who should hold power of attorney for them if they are suddenly in a health crisis and unable to make those kinds of decisions on their own. Because if you don't and have sudden health issues, it gets insanely messy to sort everything out after the fact and you may end up in a situation where your real wishes are not known or respected.
And if you're under that age, you should still discuss with a loved on what your care plan should be if you survive getting hit by a bus.
I agree 100% with that. I recently lost my Momma and Daddy and the plans were discussed before and everything went smooth. I am glad they did that because there are 6 of us kids and it would have been messy.
Not so sure that the right is spinning anything. I don't thonk that our politcians know, for sure. Funny how politics does not equal common sense.
Beach Fanatic
Impossible to disagree with any of your points in regards to long term care/planning. But I will respectfully say this; We should not smoke, take illegal drugs, consume alcohol, overeat, avoid exercise, etc. as all is scientifically proven to be bad for your health. Our public school systems, provided by tax-payer $ for all, continues to teach these truths to children year after year. Yet millions of Americans are choosing to do all of the above at this very moment. I do not need to be counseled about any of this because my life and the choices I make are my personal responsibility.
Well there goes everybody in SoWal. Well maybe 99%.
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