The more successful the Cash for Clunkers promotion appeared to be going, the more criticism it seemed to get. An editorial in the Detroit News called the law a “Clunker of a bill” because the Congress didn’t provide it with enough money. The bill was funded with only $1 billion, enough to help sell about 250,000 vehicles, and now it is rapidly running out of money. The U.S. House of Representatives passed legislation that gave the program an additional $2 billion. But the Senate has not yet acted.
Our take? It is time for both the Republicans and the media to take a little lesson in reality. There were many in Congress who wanted to fund the original legislation with as much as $4 billion but Republican members of Congress argued that was too much money and the bill was watered down. Moreover, analysts were saying that the funding, although below what many wanted to see, would keep the program going through the fall.
It seems that the SUCCESS of the program fooled everyone from pundits to legislators. It’s not that the legislation was bad or “a clunker.” The truth is, it exceeded everyone’s expectations. Now if the Republicans in the Senate put country first instead of ideology, then the updated legislation can be passed before the Senate goes on recess later this week.
Republicans are stupid….enough said.