'Cash for Clunkers' Runs Out of Gas ~ Oops, generous taxpayers re-filled the tank.

peaceandlove · 08-01-2009, 12:33 AM

'Cash for Clunkers' Runs Out of Gas

JULY 31, 2009
The Wall Street Journal

By MATTHEW DOLAN, COREY BOLES and JOSH MITCHELL

White House officials and lawmakers were studying late Thursday how to keep alive the government's cash-for-clunkers incentive program because of concerns the program's $1 billion budget may have been exhausted after just one week.

Obama administration officials warned congressional leaders Thursday it planned to suspend the program at midnight. But the White House released a statement late Thursday saying that completed deals would be honored and the program is still under review.

A White House official said, "We are working tonight to assess the situation facing what is obviously an incredibly popular program. Auto dealers and consumers should have confidence that all valid [cash-for-clunker] transactions that have taken place to-date will be honored."

Lawmakers are discussing with White House officials where to find funding -- including possibly tapping the government's Troubled Asset Relief Program, or TARP, a congressional aide said.

Continues with Comments: http://www.campaignforliberty.com/wire.php?view=6742

08-01-2009, 12:33 AM	#1
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	'Cash for Clunkers' Runs Out of Gas ~ Oops, generous taxpayers re-filled the tank. 'Cash for Clunkers' Runs Out of Gas JULY 31, 2009 The Wall Street Journal By MATTHEW DOLAN, COREY BOLES and JOSH MITCHELL White House officials and lawmakers were studying late Thursday how to keep alive the government's cash-for-clunkers incentive program because of concerns the program's $1 billion budget may have been exhausted after just one week. Obama administration officials warned congressional leaders Thursday it planned to suspend the program at midnight. But the White House released a statement late Thursday saying that completed deals would be honored and the program is still under review. A White House official said, "We are working tonight to assess the situation facing what is obviously an incredibly popular program. Auto dealers and consumers should have confidence that all valid [cash-for-clunker] transactions that have taken place to-date will be honored." Lawmakers are discussing with White House officials where to find funding -- including possibly tapping the government's Troubled Asset Relief Program, or TARP, a congressional aide said. Continues with Comments: http://www.campaignforliberty.com/wire.php?view=6742 Last edited by Karen; 08-02-2009 at 10:05 PM.