Cash For Clunkers Will Survive: White House

nytimes.com:

WASHINGTON - The White House said Friday that the 'cash for clunkers' program was still alive even though new-car shoppers appear to have already snapped up all the $1 billion that Congress had appropriated for it.

Read the whole story: nytimes.com

Comments

[jane gutowski]

Can a new car owner drop off his clunker and drive away with his new car with the lower price and leave the car dealer to wait to be reimbursed by the government? If so thats scary considering how many times the government has misread the money numbers. Oh good ! The congress FOUND more of our money so it looks like they can keep the program going for a little longer.

[proggirl]

Most new cars don't meet the low mileage classification of clunker, so this doomsday scenario is largely moot.

[econ1]

The government loves automobiles. Why not put the billions into companies other than banks and cars?
Why are they so special?

This is getting absurd.

[retroredux]

banks are the "grease" that keeps a society going. No money being lent out-no growth.

Cars related jobs account for a large percentage of jobs in America

[bolivare]

You need to stop talking sense. You know as well as I that if more cars are sold, the more jobs that will eventually be created. Repubs are suppose to be touting getting Americans back to work, but always seem to have a problem when its the dems who bail them out...again.
Thats the only problem with it. Dems made it, so it must be bad.

[Suggie]

This creates almost no jobs. Also, this is not 1950. The automobile industry does not produce a significant amount of jobs.

[Austintatious]

This legislation is a fraud, a not even thinly vailed welfare program for the American auto makers. You who suggest that this program is a legitimate, well thought out measure to increase fuel efficiency, minimize emissions and move the country significantly forward are, well, let's say you're sadly misinformed.

Someone trading an auto rated at 18 mpg for an auto rated at 22 mpg, a net gain of 4 mpg, will qualify. Someone trading an auto getting 19 mpg for an auto getting 49 mpg, a net gain of 30 mpg, does not qualify. Now, which example has the most impact, as far as increasing fuel eficiency, minimizing emissions and just setting a more responsible example?

This legislation is just another bailout boondoggle, rewarding those manufacturers and buyers choosing to achieve less, and leaving out those who choose to set and achieve a much higher standard.

So, by all means, let's get some more "cash for clunkers". Let's continue to reward the manufacturers of the least efficient vehicles and the buyers of their fine products, for their irresponsibility. Hey, it's the American way.

[retroredux]

Austin:
everything you just said about a 19 MPG for a 50 MPG not qualifying is a complete untruth. I just went to fueleconomy.gov, put in my moms car, a 99 Mercury MGrand Marquis (18 MPG), then on the selector, chose a Prius (50 MPG) AND and Insight (41 MPG) and on either of those she would qualify for $4500 credit.

PLEASE get your facts straight

[katooom]

Typical government incompetence. This program has something like a 126 page document of regulations. How is ANYBODY supposed to handle that!

When will we just admit that our government RARELY gets things right.

AND these taxpayer dollars can be used to buy FOREIGN built cars. That just is not right. Money from the US taxpayer to Toyota / Nissan / VW / Honda.

[GringoLingo]

It really has been poorly thought out and poorly ran.

[bolivare]

No, dems wanted more money, but repubs balked at it again. Just another fine example of repubs having no ideas except one. More tax cuts that benefit the wealthy, who did not create jobs like they were suppose to. Bush said so, but that never came to fruition. All it did was make them more profit. Please check out CEO bonuses to see my point.

[proggirl]

A 126 page document is not a problem for people who can read.

[katooom]

So I guess people have no right to complain about the 'fine print' in their 10page credit card agreements. But they do complain. So all these deadbeats who complain about credit card abuse cant read I guess.

126 pages that probably reads like the worst prospectus you have ever seen.

[GringoLingo]

This is why the government should leave stimulus to private industry.

[proggirl]

yeah, they have done such a swell job so far.

[Suggie]

And what exactly has the government done?

[proggirl]

Private industry, I mean.

[Creeker11]

"Wildly Successful"???? What a joke! The program was supposed to last until November. IT RAN OUT OF FUNDS IN 6 DAYS!! How can a gov't be this stupid?? Who knew if you obscenely overpaid people with taxpayer money for their worthless crap people would line up for it. I cant wait to blindly trust these people with health care of my family.

[liberalNmoderation]

Oh for cryin out loud...
will you whitey-righties stop it with that tired BS?!?!

[Altruth]

You can't SPIN this one! The economy is on the rise and this program jump-started the auto industry (250,000 cars sold in one week, 250,000 junk cars off the streets in one week). This program is good for the economy, environment, and the Middle Class. Our President is AWESOME!

[Creeker11]

Im not spinning, Id much rather see a program like this where relief is given DIRECTLY to the citizens. However, anyone who designs a program that under estimated the demand by a factor of 16 is grossly incompetent. I would not classify this as a success.

[BlueBaltMD]

The original bill was supposed to be funded at $4B, The republicans got it knocked down to $1B.
If a health care bill ever passes, they will do the same thing to that.
If they can't KILL it, republicans will make sure that it's under funded so that it fails.

[retroredux]

the program will get more funds though.

[Suggie]

How did the republicans knock it down when they have absolutely no power in DC?

[markg1956]

Healthcare will work the same way, if you don't sign up in the first 7 days it will run out of money

[slowhand0728]

lol - now that is a scary thought

[Altruth]

Republican scare tactics!

[retroredux]

Mark-did you take the blue pill or the red one this morning? Neo wants to know.

[YewNeekId]

How much of this money is going to US auto companies? Or are we bailing out Japan now?

[Charmed]

The money is going to US car dealerships....you people will overturn any rock to find a complaint.

[bolivare]

Telling ya. Can't seem to read, but love to spread lies and act like they know what they are talking about. Ran the country into the ground, but somehow, its all the liberals fault.

[Pinchy]

China's stimulus only covers products manufactured by local companies. We should have done the same.

[Altruth]

Stop thinking so small, I mean like a Republican. We are in a global economy; if other countries don't have money they cannot buy our goods.

[Feanor]

The requirements as far as the fuel efficiency of the new cars should be more stringent.

[shamaniceconomist]

That was one of those inside-the-beltway compromises. They couldn't pass it if it worked at Ford but not at Cadillac.

[shamaniceconomist]

To improve the program I suggest renaming it "US Treasury Insane Cash Giveaway 3 Days Only by the way please vote Democratic"

[retroredux]

unlike the George Bush "here's a big old lump sum tax credit, now please start liking me again" program.

[shamaniceconomist]

Not to mention that old "tax relief for billionaire supporters of the RNC" bill

[Solja]

It's not about giving money away. It's about getting inefficient cars off the road (you know, save on oil consumption?) and helping our investment in US car companies. It's a win-win all the way around.

[ObamaLuva]

Sheep....BAAAAAAAAAAAAAAAAAAAAAAAA

[hyperkell]

They are quick to give our money out to wall street and auto industry but god forbid we get that money back in the form of affordable health care.

[slowhand0728]

Or imagine a STIMULUS that actually would have stimulated the economy? Give the money directly to the consumers!

[retroredux]

car buyers are consumers. Just cause you were not able to use it doesn't mean it's any less helpful to those who could .

[shamaniceconomist]

The comment from retrodux is correct. Tax cuts didn't work as stimulus last year and they didn't work this year unless specifically tied to a spending requirement. But the clunkers program absolutely works as stimulus. All the money goes toward new spending.

[bolivare]

The stimulus did what it was suppose to. It was suppose to stabilize the economy, which it has. It was never meant to pull us out completely, because that would have taken mass amounts of cash, which you guys would have done nothing but complain about. Even what they did do, you complained about that too. Hell, anything liberals do, you complain. But nary a word when Bush spent, and spent, and spent.....

[NicoloM]

An Obama program is working?! Some of the economy is moving again? Quick, help the obstructionists, find a way to criticize it.
Any wagers on it never being called "Obama's plan" in the corporatists MSM while it is popular?

[neesy08]

My thoughts exactly! MSNBC had the woman from MI who sponsored the program. She said she had originally asked for $4 billion, and that the WH is meeting to determine the SSS amout that can be funded. I'm paraphrasing here.

Yep, what can the critics say now? Do you see a "congrats Mr. President" forthcoming??? I think not.
People are actually purchasing automobiles. WHOPPPEEEE!!! That means if this continues, the car manfactureres can hire new people, the unemployment rate will dip, and the GOP will sulk!

[retroredux]

one amendment-hopefully the car plants will be able to hire BACK old, already trained employees first:)

[Ihatecats]

The economy is moving?

What planet are you living on?

[retroredux]

the stock market over 9000 again, better employment and better GDP numbers, several big Companies, like Ford, reporting better profits-what planet are YOU from?

[Pinchy]

Well, there is a slight improvement. Christmas builds are just around the corner and the inventory in the supply chain had been overly reduced so now companies need to restock. I'd be very surprised if we see anything more than a temporary uptick. I would expect Q3 numbers to look good followed by another downtick in Q4.

[sc300nc]

Next program, Cash for Seniors. It's going to be more efficient to eliminate those health insurance guzzling seniors than continue to let them use up all of our resources. ObamaCare will do that.

[mabinog]

Fear mongering Republicans are back. This is the best that conservatives can do in the political arena. They have no facts, they have no intelligent solutions. They just chicken little on anything they don't like.

This also reflects on the right's true esteem for heartland too. The public is easily scared, they say, we just scare them into following us, they say, lie and spin to middle America they are too foo-lish to get it.

Played as servile and gullible that is how much the Republican party respects people in this country.

[Charmed]

sc300nc....just admit the program worked.......and you're still looking for Obama's birth certificate

[sc300nc]

Of course it worked. Giving "free" money away. Imagine that, how creative of them.

[retroredux]

another untruth:

the living will amendment is to counsel folks UNDER 60. Most over already have their living will in place.

Funny how the Repubs are taking something that is "fiscally responsible" like having a living will on hand and turning it into "euthanasia"

Welcome to bizarroworld-Republican style.

[TheSystemWorks]

The track record so far for this admin on economic matters is shameful. President Obama can't blame W anymore.

[RuinedSaint]

Cash for Creationists has more appeal.

[neesy08]

How is it shameful? Everything is working. The recession is easing. Wall Street is doing much better. The economic plan was over a two year period, not a 2 second period. It took eight years for Bush to get us into this . That is right,I'll sa it again. It as BUSH!! It will take time for it to work out Philidelphia recently received $1 billion to hire and trai more police officers.

Even Jindal was photographed with a stimulus check that is creating jobs for his state.

Governor Perry has petitioned the government for more money!! ROTFL So, something must be working, right? Probably needs it for when the hurricanes it and their drought turns into a flood.

[TheSystemWorks]

It is true that Bush's spending was detrimental, but can you stop being partisan for a sec and stop thinking me one?? Spending may help temporarily in some areas but any adult will tell you, you can't spend your way out of debt.

Wake up! There are facts and there is opinion. The fact is that President Obama is spending OPM (Other People's Money) that people are (rightly) calling him a socialist.

In my neighborhood those f-ing Joker socialism posters are everywhere. (2 AM last night I saw some older men - they must have been in their 50's! - putting some up. I couldn't believe it. Still I called the cops.) Still, these things are hitting a nerve.

[mjtaylor22]

oh yea right, been in 6 months and so the economic downturn is all this doing, or do you say he is fixing it, the market is wary up, housing appears to have found stability, in 5 days a billion dollars in junkers were turned in and new cars were purchased....
You are wrong, a good year or two, and it is all his, right now he is still fixing the bush mess.
Bush did nothing but go on vacation again after his 3 minute speech on the south lawn last year
So yes it is Obama's economy to fix, but the Bush butt boys they are the ones who nearly destroyed the world economy
So blame it on the rain, the truth remains the same,
The Repugnants ruined our economy and will do nothing to fix the mess they created

[Ian Reardon]

The logic behind this program escapes me.

If I have a "clunker" that means its worth less 3500-4500 dollars (or else I would have traded it in for the higher value). So a "clunker" by definition is probably 6-10 years old and has a lot of miles. Won't these cars be off the road in a few years anyway due to old age? So the government is paying all this money to get a handful (relatively) of cars off the road.

The stimulus effect is also negated because your destroying a piece of property that has some intrinsic value. So maybe a few people will buy new cars (50% of them Japanese I bet) but your also taking a large # of the less than 4500 used cars out of the market. What's this going to do to that segment of the used car market? And who is the segment of the population that buys these cars. This whole program is nothing more than pork for Michigan democrats (who are asking for 2 billion more to fund this useless program)

[retroredux]

first you'd said that these cars will be "dead" in a few years, but your second statement is that it's bad because they are getting scrapped and not sold to used car lots-your statements conflict.

First-most folks I know are trading in cars that are very old and high mileage. These cars should be scrapped and here's why.

The only dealerships that would want to sell these kinds of cars are "tote the note" dealers who, frankly, are vipers on our society.

They are the car equivalent of a pawn shop: those who must buy this kind of car is in such desperate straits they have no other options and the dealer knows this. They will "tote the note" normally at about $100 a week, till the hunk of junk breaks down-KNOWING these folks do not have the money to fix them. But by them they've made triple our quadruple what they paid for them. They are getting rich off the MOST desperate members of our society.