Not mechanically-related but decidedly interesting.
Earlier today, President Obama announced that while the Cash for Clunkers program will continue through the weekend, the cash-strapped CARS (Car Allowance Rebate System) program may be suspended after Monday if more money is not allotted toward it.
Cash for Clunkers has been a bonus for many automobile dealerships trying to fatten their bottom line. That’s the good news. It’s also good news for radio and TV stations everywhere that those dealers have spent huge amounts of money on ad campaigns encouraging buyers to participate in the government’s CARS program.
The downside is that the entire $1 billion dollar allocated for the program has been spent. There isn’t any money available for the deals moving forward and this could leave the dealers holding the bag.
White House spokesman Robert Gibbs said the government is looking at all the options available.
On Thursday night, the White House said Thursday that “dealers and consumers should have confidence that all valid CARS transactions that have taken place to date will be honored.”
This is one program that really found huge acceptance. Let’s hope the government can find some more money… FAST!