Today the House has approved moving $2 Billion more tax payer money to the CARS program. This is a program designed to stimulate the sales of new cars from dealer lots. Foreign and domestic, your choice. You turn in your older car (that meets a set of criteria) to the dealer and they give you $3,500 - $4,500 off the price of a new car. The government reimburses the dealership from the funds provided.
This plan was put on hold late last night because the demand was so strong, the system setup by the government to process the applications was seriously backlogged not to mention it looked like the first Billion dollars was close to being used up.
Today, instead of keeping this debt creating program on hold while they catchup on applications and improve the system, they are throwing MORE money at this problem.
When will people learn? Just because it is on sale, does not mean you go into debt to buy it...
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