Congress just sank another $2 BILLION into Cash for Clunkers before they ran for recess, and before it can be spent there is some serious fallout from the $1 billion-already-spent “popular” program.
Charities that depend on car donations have suffered from the day the program began this summer. Read here.
And dealers that have sold new cars are not getting their rebate money. Via Hot Air, a Pennsylvania congressman is reporting fewer than 2% of dealers have received their rebates – the rest reporting paperwork returned for various administrative errors. The money that has been “spent” is no where to be found – at least it is not in the dealer’s hands – the dealer’s who have sold cars with the intention of getting their rebate money.
And the cars that are being bought are foreign. Toyota is the most popular, with 18.9% of cars sold – the majority. The next closest is GM at 17.6%
Maybe what they need is a multi-million dollar website, like recovery.gov, to help keep track of their program. Or maybe they can run it like the Post Office.