Cash for Clunkers: Round 2 Just as Disconcerting as Round 1
How about a few extra million for crackheads to buy up crack cocaine?
$1 billion subsidy for teenage boys to buy up porn mags for the adult entertainment industry?
And hey, tattoo artists are suffering, why not cover some ink too?
And you people thought Bernanke was joking when he made the helicopter drop quip? Bwhahahahaha bend over!
‘Clunker’ Concerns Linger as Car Dealers Await Expanded Funding (Bloomberg):
U.S. auto dealers are selling cars with caution following House approval yesterday of $2 billion in added funding to the “cash-for-clunkers” program.
The Senate may take up a measure next week to triple the initial size of the Car Allowance Rebate System that provides credits of as much as $4,500 to new-car buyers who turn in older vehicles. The first $1 billion lawmakers allotted to spark about 250,000 vehicle sales through Nov. 1 lasted less than a week.
U.S. auto sales may have reached a 2009 high in July after the initiative, signaling a possible bottom to the worst slump since at least 1976. Dealers said that while the program lured shoppers back to showrooms, they have had to deal with delays in reimbursements and lack of clarity about its status.
“There has been a tremendous amount of confusion,” John McEleney, chairman of the National Automobile Dealers Association, said in an interview. “I just don’t think the infrastructure was set up to deal with the response the program has had.”
Karen Aldana, a spokeswoman for the National Highway Traffic Safety Administration, declined to comment about the program’s operations.
The House voted 316-109 to transfer money to the program from an Energy Department fund for loans to innovative energy projects that wasn’t to be distributed until next year. McEleney said NADA will ask members to lobby senators during the weekend for the passage of the House-approved measure.
Reimbursements to dealers will proceed without interruption, White House press secretary Robert Gibbs told reporters yesterday.
“We’re going to do as the government suggests and continue to sell cars, but I’m a little hesitant to deliver them until we know for sure we’ll get reimbursed,” said Bill Fox, the owner of four dealerships near Auburn, New York.
Don't do it, it's a trap!!