Rumors of congressional boneheadedness are circulating in Washington today—well, they’re always circulating, but we digress—about a potential major flaw in the recently passed ‘Cash for Clunkers’ legislation. Apparently, nobody really thought through the budget for the program, which allows car dealerships to provide a government credit to consumers who trade in their gas-guzzling cars; and now the billion dollars set aside for its execution are all but dried up like a raisin in the San Bernardino sun.
Now, it’s looking more likely that the Senate is going to approve an additional $2 billion in funds for Cash for Clunkers. This is likely to lead the common citizen to a world of bewilderment and general confusion because, well, isn’t the whole point to try and save money?
We’ll provide an equally nonsensical report on this when more information comes to light. In the meantime, you might want to think about trading in your SUV for something more efficient before the end of the week.
Hey, I appreciate your perspective and the logic may seem perverse, but I’m encouraged that the Cash for Clunker program has been extended. Not only has it helped the struggling auto industry, but it has inadvertently helped auto recycling too. We’ve seen a significant increase in the amount of scrap vehicles since the program began.
That’s super cool…didn’t think about the scrap vehicles and recycling concept.