As MM points out, the Obama administration's ambitious 'Cash for Clunkers' federal rebate program failed after only 3 days.
It wasn't just the fact that the program ran out of money to buy back junk cars in exchange for gas efficient ones in only 3 days -- it's worse than that. The truth is, the Obama administration doesn't have a clue what they're doing.
The cash ran out because there was a woeful lack of planning, budgeting and strategizing on the part of the administration. Once again we get excuses from the White House as to why their bills or programs just don't work:
The Obama administration is attempting to use the fact that the program was popular with consumers as evidence that it was a “success,” but that only serves as evidence of government incompetence. Unfortunately for Obama & Company, many people are aware that sometimes “too successful” is far more expensive than “didn’t work at all.” READ MORE...
So add the 'Cash for Clunkers' program to the growing heap of failures for the Obama administration. And then try to imagine what ObamaCare will be like if it passes.
A car dealer responds to this post after the break...
Loyal reader D. Davis writes:
I just read your post about the Cash for Clunkers being a failure. I am a Car Salesman and I would have to say that you are wrong about it being a failure. This program was a great success. We went from selling normally 30 cars during the weekend to selling 86 cars in 2 days. We have surpassed the number of vehicles that we thought we were going to sale.
The reason the goverment pulled out last night wasn't because it was poorly ran, it was because they have poor computer systems. Dealerships were supposed to start submitting for reimbursement on monday, but dealerships were so scared that they were going to get stiffed out of their money they flooded the system and the systems have been crashing all week. Last night they had no clue how many deals were pending because the systems kept crashing, so they actually put a halt until they caught up.
And trust me the goverment knows what they are doing, because they might spend 1 billion dollars but they'll make all of that back, because if a dealership screws up one little piece of paperwork, they are getting fined 15k per screw up. So at the end of the day, the gov't probably won't spend anywhere near a billion dollars.