'Cash for clunkers' gets stalled

'Cash for clunkers' gets stalled

There are 269 comments on the Chicago Tribune story from Jul 30, 2009, titled 'Cash for clunkers' gets stalled. In it, Chicago Tribune reports that:

The government's cash for clunkers program has burned through its $1 billion budget in less than a week as car buyers swarmed dealerships, and federal officials are scrambling to find more money to keep it going, according to government sources.

Join the discussion below, or Read more at Chicago Tribune.

Larry

North Chicago, IL

#215 Jul 31, 2009
liner wrote:
<quoted text>
Didn't I just hear on the news that the troop withdrawal from Iraq is running a bit ahead of schedule? Funny, I don't recall hearing that when Bush was president.....unless somehow I missed it....
The withdrawal was an agreement between President Bush and the Iraqi government. Obama has nothing to do with it.
MC Madman

Norristown, PA

#216 Jul 31, 2009
liner wrote:
<quoted text>
dude wrote:
"It makes me warm inside knowing that my tax dollars are paying for other peoples cars."
I replied:
"Think of all the fuel you'll save on heat this winter."
Still don't get it?
You really don't know too much about Chicago...Natural Gas is the #1 heating fuel here and Natural Gas is not a substitute for Gasoline.

Larry

North Chicago, IL

#217 Jul 31, 2009
Iknowthatguy wrote:
And you would be calling Obama a loser and quitter who ruined American pride if he just pulled out of Afghanistan and Iraq.<quoted text>
Obama is a loser for turning this country into a socialist one. Iraq and Afghanistan have nothing to do with it.
SharonD

Hampshire, IL

#218 Jul 31, 2009
WTF wrote:
A few things to remember:
The Germans did this they put up 5 billion for a population of 83 million. We did 1 billion for a population, the most car crazy in the world, over 230 million. Boy I wonder what happen, no worries well "find" some more money to put at it?????
This is a short term minimual impact, why because when the money is gone people stop buying. I would also like to see who bought what? Which manufactures sold the most cars and who loaned the money.
What happens if folks bought cars who can't afford them? much like the housing bubble are we creating a "car" bubble, never mind we'll just wait until people stop paying the banks again we have to bail out those big bad banks.
One more joke on the tax payer and no media is asking what happens when we stop giving rebates and if people stop paying for the car they bought.
Yeh, I was thinking about that bubble, too, and it turns out to be a relatively small bubble.

About 250,000 cars were sold under the program; let's say everyone who bought them financed $20,000. If everyone defaulted 100% on those loans--which is the highly unlikely worst-case scenario--banks are out a total of $5 billion.

Not that it's not annoying, but compared to the housing bubble it's small potatoes.

Since: Jul 09

Hanoi, Vietnam

#219 Jul 31, 2009
Who want to relax, visit my blog at www.just2download.blogspot.com
mac

Stony Brook, NY

#220 Jul 31, 2009
Where's all the money going?

Do the math-$1bil divided by $3500 per car = 285 million clunkers have been turned in during the first week? No way. That would mean almost every US citizen traded in a car last week.

Is there any part of the US that is not corrupt?

Sad
Larry

North Chicago, IL

#221 Jul 31, 2009
Obama is only interested in doling out our tax money to his followers. The Obama regime is robbing us.
Change change change

Sussex, WI

#222 Jul 31, 2009
All of you who talk about saving gas .. Yes we will save gas .. But where do you think electricity comes from .. a magic fairy in the sky .. You know we will have to generate that much more electricity somehow .. So should we use more coal or nuclear ... Did you know that this past week Russia just signed on to drill in the Gulf Of Mexico .. So it is alright if Russia gets the $$ but not us ? Fast Eddie unless you file quarterly how do you know your taxes are going down. 150K isn't that much to file quarterly . also Fast Eddie Housing prices only started going down within the last year -- Right around the time of the elections were held ( hum ?)prices aren't being stopped from going down they are still falling. Your comment about Bush obiviously means you are a schmuck. Under Comrade Obama (who truly is a socialist marxist). And at least Palin actually saved the people of Alaska money in taxes .. and heaven forbide she gave money back to the people of Alaska. Bush gave back people money also during his presidency ...twice. The only thing we will get from Obama is welfare. If they can't handle a car back program how in the world are they going to handle Health Care . Also Fast Eddie we didn't take over any country .. In Iraq we helped them get their country back on it's feet .. and we are still there UNDER OBAMA .. if you don't like being here go North 2 Canada or South 2 Mexico. Stop reading the Dailykook and pull your head out of your arse .. Obama is messing things up .. You hated Bush .. guess what Obama tripled the spending that he did in the past 6 months .. Wake up
MC Madman

Norristown, PA

#223 Jul 31, 2009
SharonD wrote:
<quoted text>
Yeh, I was thinking about that bubble, too, and it turns out to be a relatively small bubble.
About 250,000 cars were sold under the program; let's say everyone who bought them financed $20,000. If everyone defaulted 100% on those loans--which is the highly unlikely worst-case scenario--banks are out a total of $5 billion.
Not that it's not annoying, but compared to the housing bubble it's small potatoes.
The population in the US is well over 300,000,000 not 230,000,000.

230,000,000 was the population in about 1970
Fast Eddie

Glendale Heights, IL

#224 Jul 31, 2009
Jim wrote:
Man Obama just can't win with the domestic terrorist aka rebulican, crowd.
A program works too well and he's blamed for its shortcomings. Nevermind the fact that he alloted 3 times the amount that was given to him.
Oh well, these freaks will always find something to complain about.
Jim you should try using sock puppets when you try to explain to the cretins how car incentives and economics work.

Anything over Sesame Street level thinking is beyond most of these President Obama haters.
Fast Eddie

Glendale Heights, IL

#225 Jul 31, 2009
Change change change wrote:
All of you who talk about saving gas .. Yes we will save gas .. But where do you think electricity comes from .. a magic fairy in the sky .. You know we will have to generate that much more electricity somehow .. So should we use more coal or nuclear ... Did you know that this past week Russia just signed on to drill in the Gulf Of Mexico .. So it is alright if Russia gets the $$ but not us ? Fast Eddie unless you file quarterly how do you know your taxes are going down. 150K isn't that much to file quarterly . also Fast Eddie Housing prices only started going down within the last year -- Right around the time of the elections were held ( hum ?)prices aren't being stopped from going down they are still falling. Your comment about Bush obiviously means you are a schmuck. Under Comrade Obama (who truly is a socialist marxist). And at least Palin actually saved the people of Alaska money in taxes .. and heaven forbide she gave money back to the people of Alaska. Bush gave back people money also during his presidency ...twice. The only thing we will get from Obama is welfare. If they can't handle a car back program how in the world are they going to handle Health Care . Also Fast Eddie we didn't take over any country .. In Iraq we helped them get their country back on it's feet .. and we are still there UNDER OBAMA .. if you don't like being here go North 2 Canada or South 2 Mexico. Stop reading the Dailykook and pull your head out of your arse .. Obama is messing things up .. You hated Bush .. guess what Obama tripled the spending that he did in the past 6 months .. Wake up
What are you talking about?

Your rant is way off base the hybrid cars that are sold today make their own electricity from the gas that they burn.

Even if they did get the electricity off of the grid it is way more efficient to charge a battery than burn gas.

Almost none of the buyers are going for hybrids anyway they are just buying gasoline burning engines that get better gas mileage than their old car or truck did.

Sit back take your meds and think about what you are saying

P.S. You might want to spell check before you post.
Tough Love

Lake Villa, IL

#226 Jul 31, 2009
SharonD wrote:
<quoted text>
Yeh, well, if they misjudged the cost of something as simple as DTV coverters and auto rebates, how much will they misjudge the cost of something as complex as the healthcare system?
An extremely valid point. As long as our government officials are bought and paid for by corporate interests, THAT'S whose interests will be served, not the people's.
Springfield

Springfield, IL

#227 Jul 31, 2009
Your tax preparer must work in the White House, where the lies begin and rhetoric never ends.

Typical "hating" remarks from people who have no other means to debate.
Fast Eddie wrote:
<quoted text>
My income taxes are going down because I make less than 150k per year I will see a reduction on my income taxes versus last year.
Housing prices were killed by Premier Bush but it looks like President Obama has stopped the decline that the Republicans created.
http://www.chicagotribune.com/business/chi-bi...
Keep hating it will make the next 8 years a very bad time for you!
I cannot wait for 2012 when you roll out Palin as your best hope for President from the Republican Party.
Kramer

Canajoharie, NY

#228 Jul 31, 2009
Ah, smell that clean fresh air - now that all those clunkers are off the roads.
Oh, wait a minute, I don't notice any difference.
Because most of the clunker refund will be going to dealers who, as soon as this was made public, went to junk yards and paid $100 each for qualifing VINs. Then they create the necessary paperwork and wham-bam they're raking it in.
Oh yeah a few people might have bought a new car and took advantage of this deal but, excuse me, who saw any large crowds at any car dealership?
Sure, as one earlier poster noted dealers are letting thier families cash in on this deal too. Just type in the wrong info on the form, Opps, I made an error. Who is gonna catch those "errors" some govt goober watching his retirement clock tick towards 25?
You gotta remember these are car dealers. Where do you think that rep came from??
What's even better is all you Chicago folks complaining about obozo (w/all due respect to Bozo). You all supported him, voted for him and now are wondering "where's the beef?" Too funny.
John

Cidra, Puerto Rico

#229 Jul 31, 2009
Mister1776 wrote:
What a bunch of whiners here. Our domestic auto problems started decades ago. We have simply ignored it them Might as well find someone to blame - Carter, Reagan, Bush, Clinton or Obama. Here's an idea. Let's blame who is really responsible - ourselves.
Sorry dude, but I'm not responsibile for the American automobile manufacturers' collapse. They built crap for years, so now I buy German and Japanese--and unapologetically so. I only regret that so many Americans are linked to this monstrosity...otherwise, our government just could've let them all commit suicide and take their employees down the drain with them. I hate knowing that our government needs to prop up all of these inefficient, lazy, and corrupt companies.
Springfield

Springfield, IL

#230 Jul 31, 2009
mac wrote:
Where's all the money going?
Do the math-$1bil divided by $3500 per car = 285 million clunkers have been turned in during the first week? No way. That would mean almost every US citizen traded in a car last week.
Is there any part of the US that is not corrupt?
Sad
Go back to school, maybe pre-school or better yet purchase and abacus. 250,000 new cars was the mark for the $1 Billion give away. There are not that many automobiles in the USA - 285 million clunkers?
2012Cant Wait

Chesterfield, MO

#231 Jul 31, 2009
Fast Eddie wrote:
<quoted text>
OK lets do the math together pretend I am holding sock puppets so you can follow along.
I drive 100 miles a week with my 10 mpg old car.
10/100= 10 gallons of gas used.
If your site is correct I will drive 125 miles per week with my new car at 30 miles to the gallon.
30/125 = 4.167 gallons used
10-4.167 = 5.833 gallons saved each week.
Gas is at 2.75 today
5.883 x 2.75 = 16.04 x 52 =834.12 saved per year.
Got it yet?
Do you understand that me burning 5.833 gallons more per week costs me more and polutes more?
Let's see if you can follow along. You traded in a truck for a POS econobox. You therefore have traded down on capabilities. You now have a depreciating asset with less utility. You are paying interest on money that could have been invested elsewhere and are responsible for all of the pollution created to build your POS. You have taken money from people that have proven they can create value by virtue of being taxpayers and reduced their ability to generate sustained economic growth.

I'm not surprised you feel good about yourself, getting free money from someone else has that effect.
liner

Bronx, NY

#232 Jul 31, 2009
MC Madman wrote:
<quoted text>
You really don't know too much about Chicago...Natural Gas is the #1 heating fuel here and Natural Gas is not a substitute for Gasoline.
Forget it....it's not worth it anymore.
Pearl

Lisle, IL

#234 Jul 31, 2009
John wrote:
<quoted text>
Sorry dude, but I'm not responsibile for the American automobile manufacturers' collapse. They built crap for years, so now I buy German and Japanese--and unapologetically so. I only regret that so many Americans are linked to this monstrosity...otherwise, our government just could've let them all commit suicide and take their employees down the drain with them. I hate knowing that our government needs to prop up all of these inefficient, lazy, and corrupt companies.
... These EMPLOYEES you wish suicide on nearly all have households with young AMERICAN children you worthless POS. Why don't YOU do this country a favor a off yourself instead? We'll be sure to bury your sorry arse in a German or Japansese cemetery too. We wouldn't want you to be uncomfortable having to lie in AMERICAN soil, after all.
liner

Bronx, NY

#235 Jul 31, 2009
C4C just got a reprieve. A $2B one. If it passes the Senate. It will.

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