Tuesday, August 4, 2009

Update on the "Cash for Clunkers" program

The Dept. of Transportation has refused to release data on the 157,000 rebates issued thus far for review or analysis by Congress or the public.

It would be nice to see what sorts of vehicles are being bought with the help (cash) from the public purse. Are domestic automakers reaping the benefit from these "clunker coupons" or are foreign automakers getting the lion's share of congressional largess? We may never know until all the dust has settled and billions of taxpayer dollars have been spent on this boondoggle.

Initial estimates that have been seen indicate that 6 out of 10 sold via this program are either Toyota, Hundai, or Honda. There is no indication if the vehicles sold are even ones made in the good old U.S. of A.

Before we spend another 2 BILLION dollars on this U.A.W. welfare program, let's see where the cash is going and who is really benefiting.

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