Chairman Obamao's latest billion dollar boner or better known as Cash for Clunkers, is nothing more than an advertising bid for the "Government Run Auto Industry" he has created....
Obama has encouraged Congress to approve the consumer incentives for new car purchases as part of the government's efforts to restructure General Motors Corp. and Chrysler Group LLC. The bill provides $1 billion for the program from July through November. (Boston Globe)
So far the Ford Focus, made by the responsible auto maker that was not taken over by the government, has been the leading seller.
The original funding for this program, $1 Billion, was crafted using Obamao's ever famous Kenyan-based math techniques of counting pieces of dried cow dung. As we now see, this too is shaping up to be just another one of his Utopian, economy saving math failures. This afternoon, once again dipping into the American cookie jar, the Senate coughed up $2 billion more to bail out another one of Chairman Obamao's plans...
Congress approved a "cash for clunkers" program Thursday to provide government incentives of $3,500 to $4,500 to motorists who trade in their gas guzzlers for more fuel efficient vehicles after Senate Democrats narrowly defeated a Republican effort to kill the plan.
Senate supporters of the program overcame a procedural hurdle by the plan's leading opponent, Sen. Judd Gregg, R-N.H., on a 60-36 vote, winning the minimum number of votes needed to keep the program in a $106 billion war-spending plan that the Senate passed later Thursday. (WCCO)
I believe we are now up to our grandchildren that will be paying for all this rising debt. I'll bet after his push for socialized health care he claims won't cost us a dime.... our great, great grandchildren will be footing the bill.
Combining his Kenyan math skills with the complete blundering ineptness in how this Chairman Obama devised program was run --- I bet you can't wait for the government to be holding your oxygen tube!