OBAMA CASH FOR CLUNKERS BILL PUTS MORE PEOPLE IN DEBT
7/30/09 UPDATE: The Cash For Clunkers program is going to be suspended as of midnight 7/31/09 and will have lasted only about a couple of weeks. It was supposed to go to October 31 and they already blew threw all their money in TWO WEEKS! It seems another big miscalculation was made by President Obama and the government about how much money they have to give away and how quickly they want to do it. This is another example of the United States government failing at whatever they try to do. Why should we EVER trust the government for anything? Here is a link to the MSN news story about the Cash For Clunkers program being stopped. 7/31/09 UPDATE: Well now it is back on again according to MSN. LOL. Can’t they get their act together?
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The Obama Cash For Clunkers bill passed in Washington and now this will enable more people to go into debt. Just what we need! This little piece of legislation was tucked nicely into a military spending bill and it is designed to get old gas guzzling cars off the road and in their place have newer, more fuel efficient cars.
The problem with this is that if a person is driving an old beat up car, there is a reason for that and the reason is they can’t afford a newer one. So, in order for them to take advantage of the Obama cash for clunkers bill, they will have to give up their old car and go in debt to get the new one. This is another example that Obama debt relief is not anywhere on the horizon. No one seems to care about the debt problem in this country including the President. He is, after all, putting this whole country deeper in debt than ever before with the Obama stimulus bill.
This cash for clunkers bill is designed to try to help the car manufacturers out. They are obviously in big trouble and having to be bailed out and so now the politicians are trying to come up with inventive ways to get people to buy cars. Unfortunately, this bill will only persuade the people who can’t afford new cars to get them.
As always with any government bill or regulation, there are a ton of stipulations and requirements to qualify for the Obama cash for clunkers program. However, the bottom line is that right now people have a problem with losing their jobs and being in debt. Do you have money to buy a new car with? Do you want to go further into debt to buy that new car? I think the answer for most people is: NO!
