Friday, July 31, 2009

BREAKING NEWS: More Funds for Clunker Trade-ins

by Janet Crain

I must confess, I have really mixed feelings regarding this program. I was raised in the "waste not - want not "manner. And trading up to a car that only gets 5 more miles per gallon is ridiculous.

In the first place the vehicles are smaller, in most cases, and will require larger families, extended families and groups of friends going the same place to have to take more vehicles. And there go the savings.

And destroying perfectly good engines and parts goes against every fiber of my being as a automobile restorer.

What next? Tear down perfectly good houses and build new ones with government tax dollars?

My father-in-law must be rolling over in his grave, God bless him. He never threw anything away that could be fixed.

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Congress is moving quickly to save the depleted cash-for-clunkers program, as the House passed a $2 billion spending measure Friday afternoon that would keep alive a program that has encouraged American car owners to trade in their old gas guzzlers for more fuel efficient vehicles.

Despite some criticism from Republicans who called the legislation another bailout for another industry, the bill easily passed on a 316-109 bipartisan vote.

Under the fast-track bill, Democratic leaders will use funds from a renewable energy loan guarantee included in the stimulus. The bill would extend the program through Sept. 30, 2010. Democrats have portrayed the run on cash for clunkers cash as a great success for the $1 billion program, which allows car owners to turn in older, less fuel efficient cars for a $4,500 rebate to purchase higher gas mileage vehicles.




© Janet Crain

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2 comments:

keyboard.jockey said...

Janet

They are mowing houses down in California because of the foreclosures they figured out they could get more money for the land because they can't sell new homes in a state that is in big financial meltdown and at 11.5% unemployment the last time I looked...so goes California so goes the rest of the country? They are going down the tubes they have a parasite problem but their terminator isn't very good at his job ;) They should have checked him out on Angies list first LOL!

keyboard.jockey said...

Wow way back in 2007 and everyone just ignored the signs

http://thehousingbubbleblog.com/?p=3603