Cash For Clunkers Program Being Halted, Almost Out Of Money

If any of you were planning to take advantage of the Cash For Clunkers program this weekend, you are out of luck.

The Obama administration is telling lawmakers that its much-touted “cash-for-clunkers” program is already running out of money and will be suspended  Thursday night, according to three Senate aides familiar with the discussions.

The program — aimed at giving at boost to the U.S. auto industry — was supposed to expire at the end of October. But in the one week since it took effect, it appears to have run dry of the $1 billion allocated to it, aides said Thursday.

The White House will need to decide whether to push for more money at a time when it’s also pushing an ambitious and expensive domestic agenda — or let the program fade after it was touted as a way to help Detroit while improving the environment.

One Michigan Republican, Congresswoman Candice Miller, has alreayd come out in favor of extending the program, saying in a statement that “There can be no doubt that the Cash for Clunkers program is a complete success given the fact that the entire $1 billion allocated to the program was expended in less than a week.”

How about they take the $16.1 million allocated for Queen Nancy’s salt marsh harvest mice to help keep the program running?

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4 thoughts on “Cash For Clunkers Program Being Halted, Almost Out Of Money

  1. I did a little math… maybe like the government should have?
    1 billion / $4500.00 is about 220,000 cars that could be traded. On wiki I found the est. number of cars in the Us at ~ 250,000,000. So 220,000 / 250,000,000
    is .0008 or .08 percent. Granted not all 250,000,000 will qualify BUT what the hell did they think people would do in this economy???

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