Well, it looks like my major long post about the CARS or Cash for Clunkers program was a waste of breath because the program has officially run out of budget…in 4 DAYS!
When word got out that the program may be closed overnight, what media is dubbing a “pent-up demand” was released on late night dealerships which sounds to me more like a spoiled nation of irresponsible people waiting for any lame excuse to buy things they don’t really need.
But wait, the government has decided to push to extend the program and add $2 Billion on top of the $1 Billion that was quickly exhausted. To this I have to agree with Rep. Jeff Flake in his statement:
Representative Jeff Flake, another Republican, asked whether lawmakers were losing their minds.
Isn’t this reminiscent of the irresponsible and wasteful spending that got the nation in trouble not too long ago? Take this guy for instance:
“I wasn’t really looking for a new car, but that was a big incentive. That was the driving force to finally get rid of the old car,” said Michael Papa, a Detroit-area restaurant owner.
So you weren’t looking for a new car, but because you got a small fraction of that cost reduced, it became a good idea?
Another Representative that hasn’t completely lost his head said this, and I have to agree:
“Cash for Clunkers is another example of the government picking winners and losers and enshrines us as a bailout nation,” said Representative Jeb Hensarling, a senior Republican on the Budget Committee.
CARS = bailout = irresponsible br>
Tags: 1 billion, bailout, budget committee, detroit area, driving force, goverment, jeb hensarling, jeff flake, late night, lawmakers, remeniscent, rep jeff flake, representative jeff flake, restaurant owner, senior republican, waste of breath, winners and losers