Gov't made 70 percent of clunker payments

Basically, this article reinsured people that the car dealerships that participated in the "cash for clunkers" program are being reibursed. The government has already compensated for 70 percent of the dealerships and hopes to compensate for the rest by the end of September. They also said that there was no doubt that this program was a success because many auto dealerships were saved from bankruptcy. Including a GM dealership in a small town in MO saving hundreds of jobs. All in all the government and the auto dealerships were very pleased about the success of the "cash for clunkers" program.


I think that the cash for clunkers program was a really good idea to save jobs and get the economy moving again. The thing that i don't understand is where all this money is coming from. This country is in extreme debt and paying car dealerships money so people can get a discount on a new car isn't exactly helping the cause. It worries me a little that we are spending so much money and making so little. I am not really sure what the solution is. I think that as Americans we are a little spoiled. We import so many things and export a significantly lower amount than what we import. In other countries, such as Norway, they barely import anything. This also means that they have fewer choices of food, clothing etc. There is not 5 different types of sports drinks or hundreds of brands of clothes. They manufacture their own clothing and that is where their selection comes from. Back to cash for clunkers, weighing the pros and the cons, was it worth putting the govornment in more debt? Or did the economy pick up enough to cancel it out?


http://www.msnbc.msn.com/id/32877454/ns/business-autos/