Little-Acorn
07-31-2009, 06:33 PM
Government planning and efficiency at its best... again.
This week the Federal government proved it can't handle a straightforward payment program for people's old cars. In what may be a record, the U.S. government shut down its "Cash for Clunkers" program only five days after it started, saying they had run out of money. They started with $1 billion. It's gone.
Nex month, they intend to take over the health care industry in the U.S. (1/6 of the country's entire GDP) and run that.
Do you still think that's a good idea?
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http://wcbstv.com/consumer/cash.clunkers.success.2.1108544.html
Government Suspends 'Clunkers' Program
Jul 31, 2009
by Lou Young NEW YORK (CBS) ― "Cash for Clunkers" came to a screeching halt Thursday, after only six days on the road.
In a shocker, the government announced it would suspend the program at midnight because demand was too great.
It may have been the best $1 billion the government has spent so far this year. Business was humming at Crestmont Toyota/Volkswagen Thursday night as salespeople rushed back to work on news that the government's "Cash for Clunkers" program was being suspended. It's the deal where you get up to $4,500 for your older low mileage beast if you buy a new car with more efficient fuel consumption.
On Thursday night we learned the program was only good until midnight, all because of a backlog of red tape. So the salespeople were trying to get their deals through the government's Web site. "People are loving it. It's wonderful. It's a great stimulus package," salesman Andy Beloff said. But when asked if the government was running the program well, Beloff said, "No. No."
The dealership's lot had roughly 40 clunkers waiting to be shipped to the junkyard. Each one has already been replaced by a brand new lower mileage car. The program only started last Friday. It's a victim of its own success. But the money may be running out faster than anyone imagined. With almost 23,000 deals already processed and tens of thousands more in the pipeline, it's possible the $1 billion allocated for the program might have already run out and into the pockets of people like Christie Acosta, who knew a good deal when she saw one. "I had a 1987 Ford Explorer. We had it for a while and I was ready to get rid of it," Acosta said.
For the economy it's good news, but the government's miscalculation has some a little nervous. "These are just the deals we have to submit tonight," Crestmont president Bill Strauss said while holding a stack of papers. He said the dealership has over $100,000 on the table.
"If they can't administer a program like this, I'd be a little concerned about my health insurance," car salesman Rob Bojaryn said.
(Full text of the article can be read at the above URL)
This week the Federal government proved it can't handle a straightforward payment program for people's old cars. In what may be a record, the U.S. government shut down its "Cash for Clunkers" program only five days after it started, saying they had run out of money. They started with $1 billion. It's gone.
Nex month, they intend to take over the health care industry in the U.S. (1/6 of the country's entire GDP) and run that.
Do you still think that's a good idea?
---------------------------------------------------------------
http://wcbstv.com/consumer/cash.clunkers.success.2.1108544.html
Government Suspends 'Clunkers' Program
Jul 31, 2009
by Lou Young NEW YORK (CBS) ― "Cash for Clunkers" came to a screeching halt Thursday, after only six days on the road.
In a shocker, the government announced it would suspend the program at midnight because demand was too great.
It may have been the best $1 billion the government has spent so far this year. Business was humming at Crestmont Toyota/Volkswagen Thursday night as salespeople rushed back to work on news that the government's "Cash for Clunkers" program was being suspended. It's the deal where you get up to $4,500 for your older low mileage beast if you buy a new car with more efficient fuel consumption.
On Thursday night we learned the program was only good until midnight, all because of a backlog of red tape. So the salespeople were trying to get their deals through the government's Web site. "People are loving it. It's wonderful. It's a great stimulus package," salesman Andy Beloff said. But when asked if the government was running the program well, Beloff said, "No. No."
The dealership's lot had roughly 40 clunkers waiting to be shipped to the junkyard. Each one has already been replaced by a brand new lower mileage car. The program only started last Friday. It's a victim of its own success. But the money may be running out faster than anyone imagined. With almost 23,000 deals already processed and tens of thousands more in the pipeline, it's possible the $1 billion allocated for the program might have already run out and into the pockets of people like Christie Acosta, who knew a good deal when she saw one. "I had a 1987 Ford Explorer. We had it for a while and I was ready to get rid of it," Acosta said.
For the economy it's good news, but the government's miscalculation has some a little nervous. "These are just the deals we have to submit tonight," Crestmont president Bill Strauss said while holding a stack of papers. He said the dealership has over $100,000 on the table.
"If they can't administer a program like this, I'd be a little concerned about my health insurance," car salesman Rob Bojaryn said.
(Full text of the article can be read at the above URL)