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Old 07-30-2009, 09:33 AM   #41
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I'm sorry, I swear I've never made that happen before...
Reminds me of a story. I saw a guy with a stuffed briefcase with one latch open, obviously about to break open. I told him "Your briefcase is going to burst open." Before he could look down, it did. He said "How did you do that?"
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Old 07-30-2009, 10:20 AM   #42
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You're good Al, really good...
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Old 07-30-2009, 07:44 PM   #43
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Too late folks, the gummint is out of money. First program I've seen suspended because it's out of money.

The government is suspending the explosively popular 'cash for clunkers' program at midnight tonight fearing it would go broke before it could parcel out what it still owes dealers for a huge backlog of sales.
Government suspends 'cash for clunkers' program - USATODAY.com
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Old 07-30-2009, 08:10 PM   #44
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Too late folks, the gummint is out of money. First program I've seen suspended because it's out of money.
Didn't the TV digital adapter program run out of funding for the coupons?

This is one reason Congress should not get involved at this detail level. They need to get a bill to pass, they can't really run a test market or anything. I doubt anyone did an actual market study. A bill is just not something easily set up to be reactive and adjust to changes.

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Old 07-30-2009, 08:14 PM   #45
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Thank goodness the temptation is no longer there.
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Old 07-30-2009, 09:58 PM   #46
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I have a friend who just bought a new truck under the Cash for Clunkers program. First chance I get I am going to slap a "HONK IF YOU ARE PAYING MY MORTGAGE" bumper sticker on it.

He traded in a old, worn out, barely running Ford Bronco with 250K miles on it- probably was only worth a few hundred bucks, tops...

Looks like he made it in under the wire.
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Old 07-30-2009, 10:03 PM   #47
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I think it was appropriate for our govt to reward folks who bought gas guzzlers in the past by paying them a premium to take it off their hands now. Those folks who bought fuel efficient cars........ Screw them No cash for clunkers program for you!
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Old 07-30-2009, 10:45 PM   #48
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Looks like he made it in under the wire.
Nice for him - unfortunately I did not. I got a call earlier this evening from a dealer that had a vehicle I was interested in letting me know that the deal is no longer available.
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Old 07-30-2009, 10:48 PM   #49
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Bummer.
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Old 07-30-2009, 10:53 PM   #50
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They tried to push the Health Care bill through about as fast as this bill with the Cash for Clunkers provision. Would it have had the same problems?

"Mr Smith, your operation is scheduled for tomorrow - all the costs are taken care of."

Phone Call the next day: "Mr Smith, your operation has been canceled - we ran out of funding. Click."

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Old 07-31-2009, 06:53 AM   #51
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At least this clunker of a program only costs us $1B. It'a not real money until you get to $1T. Besides, it's our grandkids who have to pay the bill, so party on!

Auto ‘Clunkers’ Offer in Doubt After Going Through $1 Billion
Auto ‘Clunkers’ Offer in Doubt After Going Through $1 Billion - Bloomberg.com
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Old 07-31-2009, 10:22 AM   #52
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Just heard this on Glen Beck

'Cash for Clunkers was funded through October or November..... they are out of money in 4 DAYS! .... and these are the same people you want to run your health care?"

He does have a point.
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Old 07-31-2009, 11:30 AM   #53
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Just heard this on Glen Beck

'Cash for Clunkers was funded through October or November..... they are out of money in 4 DAYS! .... and these are the same people you want to run your health care?"

He does have a point.
So obviously, they could have spurred the intended demand with a much lower rebate. They really, really wasted a lot of our taxpayer's money. And gave it to a select few who qualified for the program (I don't). It is the opposite of democracy.

Why couldn't they do a "reverse auction" of sorts? Offer $300 rebates until the demand drops, then raise it to $400, then $500, $600 etc, until the funded amount is used up over the intended time frame. It would be easier to project demand with the nibbles and bites that each incrementally larger rebate would create. They probably would have got 2x to 3x the number of cars purchased under the program as they are.

But, Congress will call it a "success" because so many people went for it

Proof again that Congress is just not in a position to deal with financial matters. At least not directly, it just does not work.

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Old 07-31-2009, 11:56 AM   #54
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ERD50,
I don't disagree with what you say, however, I also think it proves that there are better ways to 'stimulate' the economy than the rest of the $750 billion dollar plan. If you reward the consumer you will get consumer spending, and possibly a return of the economy, but, this is a discussion for another thread.
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Old 07-31-2009, 11:59 AM   #55
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But, Congress will call it a "success" because so many people went for it
More to come...

Congress trying to rescue ‘cash for clunkers’: Lawmakers aim to pass $2 billion bill to keep rebate program alive
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Old 07-31-2009, 12:03 PM   #56
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But, Congress will call it a "success" because so many people went for it
And the other metric Congress and the administration are sensitive about: How quickly the stimulus money is being spent. They want to show they are doing something, and apparently the rapidity with which tax money can be shoveled into the economy is now a measure of effectiveness.

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Proof again that Congress is just not in a position to deal with financial matters. At least not directly, it just does not work.
-ERD50
I've read several columns comparing the Clinton approach to health care reform with President Obama's approach. Clinton tried to take it slow, design the program over a period of many months, do the detailed work in the executive branch, and finally present the whole package to the legislature for consideration. President Obama has turned the whole project over to the legislature, giving only general guidelines and a very ambitious timeline.

I think detailed work and analysis is best done in the executive branch rather than in Congress. I also think sometimes it's better to take some time and figure out the best approach.

But, Clinton's effort to get health care reform legislation failed.


Okay, cash for clunkers is dead. Hopefully there won't be a call for more money to continue this mess.
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Old 07-31-2009, 12:15 PM   #57
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Okay, cash for clunkers is dead. Hopefully there won't be a call for more money to continue this mess.
Uh oh. See previous post...
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Old 07-31-2009, 12:18 PM   #58
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Imagine that. People lining up to collect free money. Never would have guessed it...
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Old 07-31-2009, 01:29 PM   #59
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And it never occurred to them that just maybe they could lower the rebate amount going forward since they had such high demand? I guess that just is not a consideration when you are spending someone else's money

Arghhhhh. I'm starting to feel like spending should have to go up as a referendum and get voted on by the public. Maybe even base your vote weight on your 1040, After all, no taxation w/o representation.


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Old 07-31-2009, 01:32 PM   #60
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Hey guys, I have a new idea. Call your congressperson and senator about this.

Introducing cash for clunky houses.

The government needs to spend just $1 trillion to promote energy efficiency and stimulate the housing industry. They could bulldoze any houses built in 1972 or earlier that meets minimum required energy inefficiency standards and replace it with a brand new energy star rated house with the latest in energy saving devices. 6.7 million houses could be bulldozed and rebuilt at an average cost of $150,000 subsidy per house.

This bill would improve energy efficiency. It would promote green energy and green technology and sustainable development. It would stimulate the housing sector and construction industry which is sorely needed.

What do you guys think?
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