The law requires the cars traded in under the program to be destroyed. What happens if a dealer takes in a car, ships it out to the salvage yard, and then the government decides not to fund the $3500 to $4500 he fronted the customer? It'll be a scene out of National Lampoon's Vacation when Clark gets his crushed trade-in back.
UPDATE: Whoa, not so fast. Congress throws another $2 billion at the program.
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The feds checked and found that the program truely worked (or worked too good), so they call a hault to it. If only they would have checked the bank bailout as closely, and called a hault to all the bonuses we as taxpayers paid for, and stimulated the personal coffers of a very few.
Heh. Glad to see it: it might have beeen good for the planet, but it was bad, Bad BAD for people's economic situation. I wonder how many car dealers are going to be left holding the bag for their rebate payments to their customers?
Just last evening Fox News had a report from a car dealer who had about 50 cars he had accepted as trade-ins on new cars. He had allowed the buyers from $3,000 to $4,500 as allowances on new cars. He was very concerned and wondering when he would get his money. Wonder how many of these car dealers were on the BO bandwagon.
I hope the United States's citizens enjoy the clunkers the just bought. Obama -- with his taxes and his "government" money (he thinks it's the government's money not our money) -- is bringing back slavery.
Slavery happens when you don't own the fruit of your labor, when you labor for another without compensation, when another person owns your life. And how much of an employee's labor is now his own? At what hour of the day do we start earning money for ourselves? After having paid for all "Obama's" programs?
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