“Cash For Clunkers”, the Obaminable little project to encourage folks (whose number include more and more unemployed every day so a fine target market…what?) to replace their “clunker” (read: gas-guzzler) with a spiffy, new “green” vehicle, kicked off last Friday.
It’s just been reported the program is being ended.
Through late Wednesday, 22,782 vehicles had been purchased through the program and nearly $96 million had been spent. But dealers raised concerns about large backlogs in the processing of the deals in the government system, prompting the suspension.
A survey of 2,000 dealers by the National Automobile Dealers Association found about 25,000 deals had not yet been approved by NHTSA, or nearly 13 trades per store. It raised concerns that with about 23,000 dealers taking part in the program, auto dealers may already have surpassed the 250,000 vehicle sales funded by the $1 billion program.
The government failed to fully understand the potential financial ramifications of this knee-jerk program. They also seem to be having problems handling it on their end. Now they’re rushing through “health care reform”.
You really think that could possibly work any better?