$858 Million Left in Cash for Clunkers Pot

Clock

If you remember the movie “Brewster’s Millions,” you might recall how hard it was for Richard Pryor to spend $30 million in 30 days with nothing to show for it in order to later win an inheritance of $300 million. The 1985 comedy showed how hard it was to spend money and get nothing in return, but now the U.S. government has put Brewster to shame. It’s spent $67.5 million in just one day, in the form of its CARS program, aka Cash for Clunkers.

And now you can watch the money disappear, too. The government has added a countdown of how much money is left in the program to its Cars.gov website. It’s 24 hours behind, but shows how much is left in the pot for all consumer vehicles — $858 million as of yesterday morning — and a separate kitty for Category 3 trucks — $74.5 million — those large commercial trucks most consumers won’t be trading in a beat-up minivan for. You can check out the countdown here.

By David Thomas | July 29, 2009 | Comments (6)

Comments 

TT

The graphic is confusing. Isn't it the convention that empty is on the left, full on the right for gas gauges? As you drain the fuel, the needle moves anti-clockwise? Except in cases where full in on the top and empty on the bottom.

mark

since when has the government done something that made since?

J

This is just another legislature to transfer wealth from the poor to the wealthy!

Paul

where did the money go? It doesn't add up, 25000 * 5000= 125,000,000. Far from the $billion allotted. Where is the rest of the money & why isn't anyone asking these questions? It stinks of corruption.

Only $1billon out of $4billon is set aside for the project and now the program, along with car dealers, suffer a lot. And there are so much trouble for the car dealers to be refunded, this cash flow problem may slow them down in implementing the program.
Any further discussion is welcomed

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