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Cash for Clunkers Update: Senate Approves Another $2B

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Cash for clunkers lives! — at least until around Labor Day. As expected the Senate just voted on the cash for clunkers program, which provides rebates of up to $4,500 for qualifying old gas guzzlers when they’re traded in for more fuel-efficient new vehicles, and approved (60 to 37) a $2 billion extension, tripling the original budget of the program.

Since the cash for clunkers program started two weeks ago it has proven so popular that there have been, according to the LA Times,  220,000 clunker trade-ins, good for about $923 million in rebates. The program ran through its original funding of $1 billion, and if the Senate hadn’t approved more funding, or approved amendments to the House version of the extension, cash for clunkers likely would have been suspended by Friday — at least until the two chambers could hash out a compromise version after their August recess.

5 Responses to “Cash for Clunkers Update: Senate Approves Another $2B”

  1. A Nation of No Losers

    We do not let you be a loser!
    Your mistakes will be rewarded handsomely.

    When you bought clunkers that you should not have, we give you $4,000.
    When you had mortgage that you cannot afford, we’re going to bail you out.

    When you lose your job, we extend your benefit.

    When you do not have saving, we give you free health care.
    When you have saving or a job, we take away your health care.

    Teenagers, the more babies you have, the more benefits you have.
    Drunk drivers, no one will prosecute you as the entire jury are drunk.

    All athletes are rewarded with millions for taking drugs.
    We do not allow foreign athletes doing same.
    It is an America invention!

    No other country lets their citizens own guns.
    NRA and his puppet politicians will give you millions of funny ‘reasons’.

    When any company fails, we bail it out.
    The executives are rewarded with bailout money for bringing down a company.

    We need you to vote and re-elect us in 4 years.
    The children cannot vote today, so let’s pass our debts to them.

    We can pass all the blames to the evil Chinese.
    Why you provide us with so low-cost products?
    Why you lend us so much easy money?
    Why you guys work for peanuts?
    Why your kids study so hard?