I hate to sound unsympathetic to the auto industry but honestly, I just don’t get this whole “cash for clunkers” deal. I mean I get how it was “supposed” to work but it didn’t work that way did it? Here is a quote I found today to put it in the right words.
“The program, which gives consumers who trade in old gas-guzzlers for more fuel-efficient models as much as $4,500 each, is likely to end by the weekend unless the Senate approves additional funding.
Senate Republican leaders railed against it Monday, calling the program a model of government inefficiency and out-of-control spending. The program originally got $1 billion, but all but exhausted that funding last week, its first. The House of Representatives approved another $2 billion on Friday, but the Senate’s balking.
We were told this program would last for several months. As it turned out, it ran out of money in a week, prompting the House to rush a $2 billion dollar extension before anybody even had time to figure out what happened with the first billion,” said Senate Republican leader Mitch McConnell of Kentucky.
President Barack Obama plans to meet with Senate Democrats Tuesday at the White House to discuss several issues, including keeping “cash for clunkers” alive.”
Paul tried explaining this to me the other night and while he said it had really good intentions, it just wasn’t well thought out enough first. While I can see the goal in this, I mostly have two issues with it. One is the timing of it and the lack of knowledge that anyone had about it. If it got $1 BILLION dollars and that was supposed to help, how did they not look into this more before just going ahead with it if this money was obviously not nearly enough? Or, if you did cash in your car, lucky you. You snooze you lose and first come first served but I have a problem with all this $1 BILLION here and $1 BILLION there like that’s not much money. They gave the bailout and now it’s gone so no more cash for clunkers.
My second problem is why is the auto industry getting all this bailout money? Is it the only important industry in this country? What about construction and new home building or all the mom and pop stores and small business’s all over this country that are closing up shop? What about all those people? I guess I feel this should all be more fair to all of us that live here.
I guess I kind of feel that you either sink or swim. I don’t mean that to sound harsh but I know so many people personally who’ve been laid off or had to take cuts in hours and or pay and I’ll tell you that NONE of them are running out to buy a new car when they can hardly afford to pay the bills they already have. I was talking to someone this morning who I feel is very informed on these kinds of issues and that’s the first thing she said too. Her husband’s hours have been way cut back and nobody she knows either will be getting the $3,500-$4,500 “rebate” to buy a new vehicle right now when they are still going to have a big car payment that they can’t afford right now. Maybe in a year but not right now.
One more thing. Does anyone not care where this “bailout” money is going to come from? We can’t keep spending money like this.
Do you think this whole thing was/is a good idea?