Thursday, July 30, 2009

It figures

The one part of the albatross called the stimulus package that actually stimulated a big part of the economy has been suspended. Good thing they waited until the cash strapped auto industry spent untold millions in advertising this incentive to help this large part of the economy bounce back.

WASHINGTON -- The government plans to suspend its popular "cash for clunkers" program amid concerns it could quickly use up the $1 billion in rebates for new car purchases, congressional officials said Thursday.

The Transportation Department called lawmakers' offices to alert them to the decision to suspend the program at midnight Thursday. The program offers owners of old cars and trucks $3,500 or $4,500 toward a new, more fuel-efficient vehicle.

If they are short on funding why don't they take some of the cash earmarked for nonsense like toilets and wild horse programs. Then again, that might make some sense.

The rest here.

No comments: