BUT IF IT WAS SO SUCCESSFUL... - AT 7:02 P.M. ET: From AP:
WASHINGTON (AP) -- The Obama administration will end the popular $3 billion Cash for Clunkers program on Monday, giving car shoppers a few more days to take advantage of big government incentives.
The Transportation Department said Thursday that the government will wind down the program on Monday at 8 p.m. EDT. Car buyers can receive rebates of $3,500 or $4,500 for trading in older vehicles for new, more fuel-efficient models.
Transportation Secretary Ray LaHood said the program has been "a lifeline to the automobile industry, jump starting a major sector of the economy and putting people back to work." He said the department was "working toward an orderly wind down of this very popular program."
COMMENT: But wait a second. If it's so successful, why not extend it? I can't figure out the logic of these people. The amounts involved are tiny compared to the trillions this administration has spent on vague projects and "stimulus" fantasies. There's a disconnect here.
August 20, 2009