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Thursday, July 30, 2009

Cash for Clunkers is a Dud or Best Stimulus Ever

It is being rumored that the US DOT is pulling the plug on the program due to the FAILURE of the federal government to be able manage this stimulus program. That's right, you guessed it... the bureaucracy is creating a backlog so that so many dealers are involved in the program that the government doesn't know how much money it's committed.

This, like all the rest of the fiscal stimulus, due to its hasty debut on the national scene, is failing to meet the needs of the public, and creating huge lags.

What's so unnerving about this is that dealer's have already made all these promises, people have already planned their purchases, etc. ... all because of this program - which the government may abruptly stop because it can't handle it.

Story here

On the other hand, the program has been so well used that it may turn out to be the quickest way the government has spurred consumer spending ever! In that case, maybe they should just spend all the rest of the stimulus money via 'trade in' rebates - for all sorts of new goods. Could be the best stimulus ever.

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