Cash For Clunkers - My Two Cents Worth

On the surface, it looks nice. After just one week the government went through $1B our taxpayer's money to subsidize those affluent enough to purchase a car, and as of this writing congress is debating and will probably vote on printing another $2B to inject more money into this project.

I received an email from my Congressman, Bart Gordon earlier this week on how proud he was to have been one of the sponsors of the PAYGO bill, which was voted on and passed the House a few days prior.

In it he states that Congress will have to come up with the cash to pay for any money spent from here on out. So my question is: Where's these extra $2B coming from? and how will Bart Gordon vote?

I would hope that the banks acted responsibly this time around and only approved funds to those qualified to pay it back. I would hope that this time around we're not going to get stuck with this bill as well. Only time will tell.

If you're affluent enough to have been able to purchase a car without government help, I just helped make your down payment... shame on you! If you're not affluent enough to be purchasing a new car today, and you did... shame on you.