The government Cash for Clunkers program has provided rebates up to 4,500 dollars for about a week now. The qualifications for the program were simple, bring in an old car to receive a more fuel efficient car. Apparently, there was not enough cash for all of the clunkers. Congress scrambled today to add more funding into the program. One billion dollars has already been poured into the program.
The House has voted to extend another two billion dollars to the program. The Senate must now approve the additional funds to be allocated from stimulus money. Will it be in the best interest of the consumer to extend the program? The economy will answer this question. It is interesting to note car sales were down until the program was implemented. If the money has run out and the Senate does not approve the additional funding, what will happen to the dealerships that cannot get their rebate money from National Highway Traffic Safety Administration?
There are estimates over 250 thousand cars have been sold as a result of this program. What about the “clunkers?” Many of these cars are not in bad condition. Instead of destroying the clunkers, why not sell them to a foreign country where they can be used. In today’s green society, surely all of this waste cannot be beneficial. We have a suggestion from Liberate Magazine to pour more money into the Cash for Clunkers program…sell the clunkers to foreign markets and you will gain the funds you need.
