Cash For Clunkers - A Huge Success

By
Real Estate Agent with Windermere Real Estate - Palm Springs CalBRE# 01339266

Cash For Clunkers - A Huge Success

The Obama Administration's CARS Bill (Car Allowance Rebate System) has proven to be a great success with over 457,000 motor cars being sold as a direct result of this stimulus program.

President Barack Obama said that the program has been "successful beyond anybody's imagination"

Transportation Secretary Ray LaHood said the program has been "a lifeline to the automobile industry, jump starting a major sector of the economy and putting people back to work." He said the department was "working toward an orderly wind down of this very popular program."

GM announced plans to rehire more than 1,300 workers and automakers have been paying overtime to boost production.

The program will officially end at 8pm ET on Monday August 24th 2009.

Senate Democrats narrowly defeated a Republican effort to kill the plan in July. The Republican effort was lead by Senator John McCain who said: "I not only wouldn't vote for the extra two billion, I was opposed to the initial billion."

Sen. Jim DeMint (R-S.C.) is on record stating: "I just think this is a great example of the stupidity that's coming out of Washington right now, and I think Americans realize the numbers that we're throwing around don't work."

It appears that many Republicans were on the wrong side of history reagrding this matter .... Let's see how they spin this!

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Topic:
ActiveRain Community
Location:
California Los Angeles County West Hollywood
Groups:
Blatant Politics
Dedicated Bloggers
LA Connection
Politics And Real Estate
"Whacked"!!!
Tags:
cash for clunkers
financial bailout
auto bailout
politics

Comments 19 New Comment

Rainer
96,468
John Hersey
e-PRO Realtor
Prudential Bob Yost Homesale Services

Stewart,

It never ceases to amaze me that we have valid arguments that you decide to ignore again and again and call it Limbaugh this or Beck that, etc...  I think for myself and have common sense which most people fail to use anymore.  Like Trey said, You don't have to have some sort of degree to see a bad business move.  If the govt. had to operate like you and I, they would fail, period!

August 22, 2009 10:04 AM
Rainmaker
473,563
Palm Springs Realtor Stewart Penn
Windermere Real Estate - Associate Broker
Windermere Real Estate - Palm Springs

On the contrary John, when the government operated like YOU they failed!

(The facts speak for themselves - Remember 2001-2008 The Bush Administration?)

August 22, 2009 10:25 AM
Rainer
96,468
John Hersey
e-PRO Realtor
Prudential Bob Yost Homesale Services

Ummm, Stewart, I am not failing so there goes that argument.  I make sure I have more coming in then going out.  That is good business.  I guess you do the opposite!!  Talk about things going over some peoples heads...

August 23, 2009 10:41 AM
Rainmaker
462,712
Trey Thurmond
College Station , Texas Homes
BCR Realtors

John

I have been in Real Estate for almost 32 years. Of those years my very best years finacially were under the Bush Admin. This year has been one of the worst in years, but we are surviving. As my grandpa said " When the outgo exceeds the income........ the upkeep will be your downfall."

August 23, 2009 09:51 PM
Rainer
96,468
John Hersey
e-PRO Realtor
Prudential Bob Yost Homesale Services

Trey,  I have heard that several times before and it makes PERFECT sense.  Stewart seems to be trying to argue like a 1st grader here and he tells me to have a civil debate.  I did not call him a failure but he tries to call me a failure with the way he says it.  Oh well, I am used to this nonsense.

Stewart,  How can you say the Govt. runs things like a successful business.  The Post Office is losing money, Social Security is losing money, and on and on.  Successful businesses do NOT lose money!

August 24, 2009 08:43 AM
Rainmaker
473,563

Palm Springs Realtor Stewart Penn

Windermere Real Estate - Associate Broker
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