Cash for Clunkers Suspended? White House is Seeking More Options
Would Taking Funds from One Program to Pay for Another Smart Business?
The White House says the cash for clunkers cars program should stay afloat for near future use with a little wheeling and dealing.
The cash for clunkers cars program was so hot that the $1 billion budget for rebates sizzled out within one week. As Americans wonder when is it going to return, Washington is working overtime to figure out exactly when they can offer the once in a lifetime deal again, but assures hope that it has not truly been suspended.
"We are working tonight to assess the situation facing what is obviously an incredibly popular program," White House press secretary Robert Gibbs said as offered through Yahoo news/AP. "Auto dealers and consumers should have confidence that all valid CARS transactions that have taken place to date will be honored."
What worries car dealers? The paperwork is complete but the titles and cars are not, meaning that some deals are in midstream upon the question that many ask. Will the government pay the car dealers for all of their cash for clunker car deals?
With the idea of cars suspended within the cash for clunkers cars program, many are beginning to question whether or not cars for clunkers was truly a good idea after all, especially when some states are considering to continue the cars program by tapping or transferring out of other important funds.
In Michigan law makers try to seek an additional $2 billion since the $1 billion did not last for more than a week. They are seeking to transferring funds from the economic stimulus funds to the cars program.
Taking from another program, the trade off, is it worth it? Do we allow some Americans good deals take away from other needed program funds? To some this is not smart business, to others this will do. However, to many, there are more important carrots to toss the American citizen other than a great car deal.
As for the cash for clunkers cars program by the end of next week more options should be available. It would be smart business to be aware of the government programs placed in swap on the table to continue the cars program. Each state may consider different funds to tap into or switch just to keep the cash for clunkers cars program ongoing.
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Source(s):
http://finance.yahoo.com/news/
http://www.bloomberg.com/apps/news
Published by Lori Lane
Lori Lane is a published poet, active electronic journalist, technical writer, fitness center staff member. Lori Lane welcomes questions or feedback. View profile
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11 Comments
Post a CommentIsn't this just incredible? Way too much red-tape.
From what I hear, if Congress is going to extend the program, they ought to get rid of the excessive red tape the dealers need to hassle with and get someone to make the website through which the program operates a lot less user-hostile.
I say we get the white house to throw a huge birthday bash for Lori! I'll bring the 25 candles ;-)
I heard one senator say that Americans should be really afraid that the Government can't handle organizing Cash for Clunkers in light of the possibility that they might soon be in charge of our health care. Scary!
happy birthday, Lori! And may you have many more 25th birthdays! n Nicely done, darlin'!
Happy Birthday, interesting article on cash for clunkers.
LOL..happy birthday Lori! I enjoyed your cash for clunkers article!
I can't believe the program only lasted for a few days. Wow.
bait and switch and bait and switch all the while telling you they need more of your money. Obama's gonna change the world.
Ok, let's all sing - how old are you now, how old are you now - how old are you dear Lori? Awh, never mind!