Less Than Half Of Cash For Clunkers Spending Actually Went To Dealers UPDATE: Corrected
Update: Whoops, I read the article below a little too fast. The $1.22 billion number is the amount of rebates paid back so far. The remaining isn’t entirely administrative costs but also the amount of rebates yet unpaid. According to this article, though, the administrative costs to date have been $144 per rebate. That’s a lot of money for a simple car rebate, and with 690,000 rebates to process we’re talking over $100 million to process rebates for a program that lasted weeks. Still not every efficient.
Your tax dollars, hard at work.
WASHINGTON – Transportation Secretary Ray LaHood says the government has approved $1.22 billion in reimbursements to car dealers for sales under the Cash for Clunkers program. …
The rebates led to more than 690,000 new car sales at a taxpayer cost of $2.88 billion. Auto dealers have said the Obama administration has been slow to pay them for the car incentives, which ended on Aug. 24.
$1.22 billion for the intended purpose. $1.66 billion for administering the money for the intended purpose.
Typical government program.
Let’s put these idiots in charge of health care!



