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House OKs $2 billion in additional funds for cash for clunkers program

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mka06
LIF Adult

Member since 8/06

1079 total posts

Name:
Melis

House OKs $2 billion in additional funds for cash for clunkers program

http://money.cnn.com/2009/07/31/autos/cash_for_clunkers_update/index.htm

NEW YORK (CNNMoney.com) -- The House on Friday passed a bill to allocate another $2 billion to the Cash for Clunkers program.

The move came after reports on Thursday had raised concerns that the program was out of money.

The bill which diverts $2 billion from a U.S. Department of Energy program loan guarantee program, passed 316-109. The bill will face tough opposition in the Senate, which is expected to take up the issue next week.

"I'm pleased about the progress made in the House today about the cash for clunkers program," said President Obama, in a speech immediately following the vote.

The fate of the $1 billion trade-in program was thrown into question Thursday over concerns that it may have already burned through its funds less than a week after it was officially launched.

It was unclear how much longer car buyers would be able to trade in clunkers after reports surfaced on Thursday night that the program would be suspended.

Obama, in his Friday speech, presented the program as a success: "I'm happy to report that it has already succeeded beyond our expectations. It's working so well that there are legitimate concerns that the original funds might already be exhausted."

One of the Clunker program's main champions in Congress, Sen. Debbie Stabenow, D-Mich., said the incentive has provided an important boost to the economy and resulted in 200,000 car sales.

"I am delighted to hear dealers say that all of their salespeople are busy and they are selling more cars in a day than they had been selling in a month," Stabenow said.

Cash for Clunkers, which Congress passed in June, was set to end on Nov. 1 or whenever its $1 billion budget was depleted.

An earlier version of the Clunkers proposal called for appropriating $4 billion.

On Friday morning, the government's official CARS.gov Web site, set up to provide dealers and consumers with information about the plan, still showed $780 million remaining in the coffers.

But many dealers say they are still waiting to proceed.

Under the plan as enacted, vehicles purchased after July 1 will be eligible for refund vouchers worth $3,500 to $4,500 on traded-in gas guzzlers. The trade-in vehicle has to get combined city and highway fuel economy ratings of 18 miles per gallon or less.

The program aims at helping the struggling auto industry by taking inefficient cars off the road and spurring new sales.

Domestic auto sales have been hit hard by the recession and credit crunch and helped propel the bankruptcies and government bailouts of General Motors and Chrysler. In June, the seasonally adjusted annual sales rate fell to 9.7 million, a pace well below recent years.

Posted 7/31/09 2:53 PM
 
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mommy2Alex
3 babies for me :)

Member since 5/05

6679 total posts

Name:

Re: House OKs $2 billion in additional funds for cash for clunkers program

Chat Icon spending more money we don't have!

Posted 7/31/09 7:31 PM
 

Bellaocchi
Always have a back up plan

Member since 2/07

5679 total posts

Name:

Re: House OKs $2 billion in additional funds for cash for clunkers program

Posted by mommy2Alex

Chat Icon spending more money we don't have!

ugh yes, exactly!Chat Icon

If any of you watched the Glenn Beck Program today at 5:00 you would have been listening what he has to say about this "Clunkers" program and been in disgust. I know I was. Especially about the part where he mentions that if you go on a particular site and click the privacy agreement, it's giving the government free will to trace and obtain all of your personal information on your computer. The Gov't calls that legal! Chat Icon Chat Icon

Posted 7/31/09 8:10 PM
 

SweetestOfPeas
J'taime Paris!

Member since 3/06

32345 total posts

Name:

Re: House OKs $2 billion in additional funds for cash for clunkers program

a part of me is thinking - okay, so the Gov't FINALLY came up with a stimulus plan that is actually WORKING! instead of the billions of $'s of useless pork in the TARP bill that will never trickle down.

on the other hand, if you're in debt so badly that China basically OWNS you, why are you still spending billions of $'s a DAY? Chat Icon Chat Icon Chat Icon Chat Icon

how much is a billion anyway?? not a big deal right?

A billion seconds ago it was 1959.

A billion minutes ago Jesus was alive.

A billion hours ago our ancestors were living in the Stone Age.

A billion dollars ago was only 8 hours and 20 minutes, at the rate Washington spends it.

Message edited 7/31/2009 8:18:25 PM.

Posted 7/31/09 8:15 PM
 

itkocak

Member since 7/07

7639 total posts

Name:

Re: House OKs $2 billion in additional funds for cash for clunkers program

Message edited 11/29/2011 5:46:46 PM.

Posted 7/31/09 8:21 PM
 

SweetestOfPeas
J'taime Paris!

Member since 3/06

32345 total posts

Name:

Re: House OKs $2 billion in additional funds for cash for clunkers program

Posted by imthekevinofcindyandkevin

House Majority Leader Steny Hoyer said the new money for the program would come from funds approved earlier in the year as part of an economic stimulus bill.

Source

Chat Icon

right Chat Icon

if the Gov't told me there was not a cloud in the sky Chat Icon I would leave the house with an umbrella

Posted 7/31/09 8:28 PM
 

mommy2Alex
3 babies for me :)

Member since 5/05

6679 total posts

Name:

Re: House OKs $2 billion in additional funds for cash for clunkers program

Posted by SweetestOfPeas

Posted by imthekevinofcindyandkevin

House Majority Leader Steny Hoyer said the new money for the program would come from funds approved earlier in the year as part of an economic stimulus bill.

Source

Chat Icon

right Chat Icon

if the Gov't told me there was not a cloud in the sky Chat Icon I would leave the house with an umbrella




Off topic but I love Paris too! Isn't the greatest place on Earth. DH and I are going to spend our golden years enjoying the beauties of Paris. My 2nd favorite place next to NYC.

Posted 7/31/09 8:34 PM
 

SweetestOfPeas
J'taime Paris!

Member since 3/06

32345 total posts

Name:

Re: House OKs $2 billion in additional funds for cash for clunkers program

Posted by mommy2Alex

Posted by SweetestOfPeas

Posted by imthekevinofcindyandkevin

House Majority Leader Steny Hoyer said the new money for the program would come from funds approved earlier in the year as part of an economic stimulus bill.

Source

Chat Icon

right Chat Icon

if the Gov't told me there was not a cloud in the sky Chat Icon I would leave the house with an umbrella




Off topic but I love Paris too! Isn't the greatest place on Earth. DH and I are going to spend our golden years enjoying the beauties of Paris. My 2nd favorite place next to NYC.

off topic? its a welcome diversion from this! LOL Chat Icon

Paris is truly the most amazing place I have ever visited! I had such high expectations when I went there last year and it just blew me away!!! I can't wait to go back Chat Icon

Posted 7/31/09 8:45 PM
 

itkocak

Member since 7/07

7639 total posts

Name:

Re: House OKs $2 billion in additional funds for cash for clunkers program

Message edited 11/29/2011 5:47:15 PM.

Posted 7/31/09 8:51 PM
 

SweetestOfPeas
J'taime Paris!

Member since 3/06

32345 total posts

Name:

Re: House OKs $2 billion in additional funds for cash for clunkers program

Posted by imthekevinofcindyandkevin

so what's the plan then? it's so easy to criticize when you don't have to fix this mess.
call me crazy but i'd rather be optimistic then pessimistic at this point.

i'm no virgin and i know what my government has done and not done but i think we as a country need to try and get behind this and push just a little.


I want to be optimistic, but it's kind of hard to when you're being lied to (and not just by this administration) everyday - and ignored when you contact your elected officials more than once.

Steve Israel, Schumer and Gillibrand can kiss my tush. they will never see a vote from me, ever.

we are drowning in a sea of debt. we have to get on our knees and kiss China's azz and BEG them to loan us more money. but Congress, the House and good Ole Obama keep spending billions of $'s a day, like it's monopoly money... and that’s basically what the dollar will end up being worth before long. if they something will cost X, it ends up costing XXXXXXXXXXXXXXX

Why does everything have to be rushed through the house and senate?? Every single bill has to be passed right now or we’re ALL GOING TO DIE! I see no light at the end of the tunnel. WHO IS GOING TO PAY FOR ALL THIS??

Posted 7/31/09 8:58 PM
 

Nifheim
allo

Member since 1/09

5476 total posts

Name:
Jennifer

Re: House OKs $2 billion in additional funds for cash for clunkers program

as i said earlier the bill is great if only it was geared to AMERICAN made cars only. EDITED: Toyota's are actually mostly manufactured here so I completely stand corrected! And now think its amazing that three people I know are going in to spend cash but on Toyota's! With the exception of Toyota Prius which is manufactured in Japan.

I agree the spending is going to have to stop - health care reform is where I say no . Bills need to be really looked at not just passed. But I think all and all it is really all of our faults the **** hit the fan and will continue to do so for a few more years.

Limit buying Louie's, VW's, Made China/India/indonesia crap and start spending on American products. I realize you can't buy all american (it is simply impossible) but try to make an effort. Also turn in people who are abusing the system (disability, social security frauds), hire the kid next door to cut your lawn if your too lazy to do it yourself, clean your own house or hire someone legally here. I can keep going but i really do not think it is necessary.

Message edited 8/3/2009 10:42:42 AM.

Posted 7/31/09 9:32 PM
 

smdl
I love Gary too..on a plate!

Member since 5/06

32461 total posts

Name:
me

Re: House OKs $2 billion in additional funds for cash for clunkers program

Posted by mommy2Alex

Posted by SweetestOfPeas

Posted by imthekevinofcindyandkevin

House Majority Leader Steny Hoyer said the new money for the program would come from funds approved earlier in the year as part of an economic stimulus bill.

Source

Chat Icon

right Chat Icon

if the Gov't told me there was not a cloud in the sky Chat Icon I would leave the house with an umbrella




Off topic but I love Paris too! Isn't the greatest place on Earth. DH and I are going to spend our golden years enjoying the beauties of Paris. My 2nd favorite place next to NYC.



Be careful! It's a socialist Country with lost of Government own companies. The health insurance is socialized. You might not be able to see a Dr for at least 10 years.

Posted 7/31/09 9:58 PM
 

mommy2Alex
3 babies for me :)

Member since 5/05

6679 total posts

Name:

Re: House OKs $2 billion in additional funds for cash for clunkers program

Posted by SweetestOfPeas

Posted by mommy2Alex

Posted by SweetestOfPeas

Posted by imthekevinofcindyandkevin

House Majority Leader Steny Hoyer said the new money for the program would come from funds approved earlier in the year as part of an economic stimulus bill.

Source

Chat Icon

right Chat Icon

if the Gov't told me there was not a cloud in the sky Chat Icon I would leave the house with an umbrella




Off topic but I love Paris too! Isn't the greatest place on Earth. DH and I are going to spend our golden years enjoying the beauties of Paris. My 2nd favorite place next to NYC.

off topic? its a welcome diversion from this! LOL Chat Icon

Paris is truly the most amazing place I have ever visited! I had such high expectations when I went there last year and it just blew me away!!! I can't wait to go back Chat Icon



When DH and I lived in Ireland, Paris was our favorite place. We went 3x and I would love to go back every year. J'aime Paris. We will definitely spend some time there every year once DH retire. En Espanol Viva Paris!!!

Posted 7/31/09 10:02 PM
 

beautyq115
New Year!

Member since 5/05

13729 total posts

Name:
Me

Re: House OKs $2 billion in additional funds for cash for clunkers program

Posted by mommy2Alex

Chat Icon spending more money we don't have!



YUP! And only a few days into it and they are just about out of it! Just keep spending.

Posted 7/31/09 10:04 PM
 

mommy2Alex
3 babies for me :)

Member since 5/05

6679 total posts

Name:

Re: House OKs $2 billion in additional funds for cash for clunkers program

Posted by SweetestOfPeas

Posted by imthekevinofcindyandkevin

so what's the plan then? it's so easy to criticize when you don't have to fix this mess.
call me crazy but i'd rather be optimistic then pessimistic at this point.

i'm no virgin and i know what my government has done and not done but i think we as a country need to try and get behind this and push just a little.


I want to be optimistic, but it's kind of hard to when you're being lied to (and not just by this administration) everyday - and ignored when you contact your elected officials more than once.

Steve Israel, Schumer and Gillibrand can kiss my tush. they will never see a vote from me, ever.

we are drowning in a sea of debt. we have to get on our knees and kiss China's azz and BEG them to loan us more money. but Congress, the House and good Ole Obama keep spending billions of $'s a day, like it's monopoly money... and that’s basically what the dollar will end up being worth before long. if they something will cost X, it ends up costing XXXXXXXXXXXXXXX

Why does everything have to be rushed through the house and senate?? Every single bill has to be passed right now or we’re ALL GOING TO DIE! I see no light at the end of the tunnel. WHO IS GOING TO PAY FOR ALL THIS??



ITA! Here is a great sound bite from the Messiah,proving he is just like the rest of them. Youtube - Obama on Bush rushing thru things thru

Posted 7/31/09 10:13 PM
 

MrsBlueSash
Love my sailor

Member since 6/05

5793 total posts

Name:
Christian

Re: House OKs $2 billion in additional funds for cash for clunkers program

This program is bologna and some seemingly good press to distract from the mess of Afghanistan, the pork in these bills, gross deficit, etc. We're on the brink of inflation like we've never seen with a decimated industrial base. Sad, sad state of affairs.

Posted 8/1/09 10:32 AM
 

Mommy2Boys
My Boys!!!!

Member since 6/06

14437 total posts

Name:
C

Re: House OKs $2 billion in additional funds for cash for clunkers program

Posted by beautyq115

Posted by mommy2Alex

Chat Icon spending more money we don't have!



YUP! And only a few days into it and they are just about out of it! Just keep spending.




So people are now getting money to buy a car, getting money to buy a house...anything else we're giving money to people for? Chat Icon

Posted 8/1/09 11:06 AM
 

KLSbear
LIF Adult

Member since 1/06

1908 total posts

Name:
Karen

Re: House OKs $2 billion in additional funds for cash for clunkers program

What angers me is that once again we're rewarding people for being irresponsible. Buy a gas-guzzling car and you get money to replace it. Be responsible and purchase a fuel efficient car and you're on your own if it needs to be replaced. I'm looking to replace my 1996 Saturn with 170,000 miles but I get no compensation or incentive to buy American or entice me to do it now instead of in the fall, or next spring... But if I had an older SUV that had been sucking gas for the past several years I'd get $4500 as a reward to take it off the road and stimulate the economy. Chat Icon Chat Icon Chat Icon

The fact that so many people rushed to take advantage of it shows that $3500 to $4500 is a trigger point that would get people to buy as well. Just think how many cars we could be selling if they just reduced the price by that amount across the board. Maybe they should be looking at forgiving sales tax, reducing prices, etc. to drop new car prices to a point that they are affordable for more people.

Posted 8/1/09 11:17 AM
 

SweetestOfPeas
J'taime Paris!

Member since 3/06

32345 total posts

Name:

Re: House OKs $2 billion in additional funds for cash for clunkers program

Posted by KLSbear

What angers me is that once again we're rewarding people for being irresponsible. Buy a gas-guzzling car and you get money to replace it. Be responsible and purchase a fuel efficient car and you're on your own if it needs to be replaced. I'm looking to replace my 1996 Saturn with 170,000 miles but I get no compensation or incentive to buy American or entice me to do it now instead of in the fall, or next spring... But if I had an older SUV that had been sucking gas for the past several years I'd get $4500 as a reward to take it off the road and stimulate the economy. Chat Icon Chat Icon Chat Icon

The fact that so many people rushed to take advantage of it shows that $3500 to $4500 is a trigger point that would get people to buy as well. Just think how many cars we could be selling if they just reduced the price by that amount across the board. Maybe they should be looking at forgiving sales tax, reducing prices, etc. to drop new car prices to a point that they are affordable for more people.

I agree with this...

DH's car is 7 yrs old, but has 133K miles on it - the A/C just went on it and it's going to cost a LOT to fix. so now he is debating on whether he should fix it or buy a new car.

but b/c DH's car is not a gas guzzler, he would not qualify for the $3500/$4500 rebate - unless he buys a Prius or a Honda Fit, which isn't going to happen.

we're not looking for a handout... we can afford to buy a new car. but like KLS bear said, some of these programs are unfair.

I still stand by my post above that said we shouldn't be spending billions a day that we don't even have

Message edited 8/1/2009 11:26:36 AM.

Posted 8/1/09 11:24 AM
 

Beth
The Key to your new home....

Member since 2/06

24849 total posts

Name:
Beth

Re: House OKs $2 billion in additional funds for cash for clunkers program

So what should the government do....nothing? Just sit back and wait for the economy to fix itself?

Everyone complained when they gave the money to the banks

Now they are giving the money to the people and everyone that can't take advantage is upset

I don't have a clunker to trade in- but I am happy that one stimlus program is actually stimulating the economy, helping the environment and reducing our need for oil

I feel like no matter what the government does- people will never be happy- but personally I would rather see them try - then not do anything

Posted 8/1/09 11:33 AM
 

SweetestOfPeas
J'taime Paris!

Member since 3/06

32345 total posts

Name:

Re: House OKs $2 billion in additional funds for cash for clunkers program

Posted by Beth

So what should the government do....nothing? Just sit back and wait for the economy to fix itself?

Everyone complained when they gave the money to the banks

Now they are giving the money to the people and everyone that can't take advantage is upset

I don't have a clunker to trade in- but I am happy that one stimlus program is actually stimulating the economy, helping the environment and reducing our need for oil

I feel like no matter what the government does- people will never be happy- but personally I would rather see them try - then not do anything

I don't have a problem per se with programs like this that seem to actually be working and directly putting $ back into ppl's pockets, while stimulating the economy. but increasing it by 3x? come on!

we've become so used to hearing the number 'a billion' that I really don't think people realize just how much money it is. we are debt beyond our eyeballs and the Gov't keeps spending it like water. what kind of message is this sending? you're in debt? no problem, just keeping writing checks. how is this responsible? how are we ever going to climb out of this?

we've been in recessions before, and the economy has fixed itself eventually w/o spending a trillion $'s

Posted 8/1/09 11:50 AM
 

Blu-ize
Plan B is Now Plan A

Member since 7/05

32475 total posts

Name:
Susan

Re: House OKs $2 billion in additional funds for cash for clunkers program

Unprecedented issues require unprecedented measures.

You can't criticize if you don't have an alternative.

I would much rather do something than nothing.

If you think it sucks so badly here move to another country.




Posted 8/1/09 12:15 PM
 

ave1024
I Took The Wrong Road

Member since 12/07

5938 total posts

Name:
That Led To The Wrong Tendencies

Re: House OKs $2 billion in additional funds for cash for clunkers program

This is Obama's way of giving money to the auto industry without actually giving it.

I sort-of like the bill. Any bill that triggers consumer spending I can live with.

But I would have liked it even more if it was for GM/Ford/Chrysler only.

Posted 8/1/09 1:27 PM
 

GoldenRod
10 years on LIF!

Member since 11/06

25098 total posts

Name:
Shawn

Re: House OKs $2 billion in additional funds for cash for clunkers program

Posted by Nifheim

as i said earlier the bill is great if only it was geared to AMERICAN made cars only. Three people I know are going in to spend cash but on Toyota's!

Limit buying Louie's, VW's, Made China/India/indonesia crap and start spending on American products. I realize you can't buy all american (it is simply impossible) but try to make an effort. Also turn in people who are abusing the system (disability, social security frauds), hire the kid next door to cut your lawn if your too lazy to do it yourself, clean your own house or hire someone legally here. I can keep going but i really do not think it is necessary.



My Chrysler (an "American" car), was owned by a German company at the time, and manufactured in Mexico. My Dodge was also owned by a German company, and built in Canada. Now, it's owned by an Italian company....

Some Toyotas are built almost exclusively in the US, by US workers, using US manufactured parts.....

Which is more "American"?

Posted 8/3/09 9:05 AM
 

Nifheim
allo

Member since 1/09

5476 total posts

Name:
Jennifer

Re: House OKs $2 billion in additional funds for cash for clunkers program

i agree with you now things are different when it comes to ownership of companies but if you outlined american MANUFACTURED this would be more beneficial then just anyone. I don't care of Italy and/or germany company owns the company as long as we have the jobs here to make it. If Toyota fits in that then so be it - i stand correct.

Posted 8/3/09 9:32 AM
 
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