Cash for Clunkers Success

[Riot]

People going back to work in America is unworthy of a big hooray?

Except that far more than 1350 people are affected. The families who now can come off unemployment, food stamps, and Medicaid (that makes me happy, because I help pay for that), and keep their houses, buy groceries, and have a little disposable income to put back into their local economy and keep them solvent and maybe cause some new hires (like florists, the local pizza place, the dry cleaner); in addition to the couple of thousand jobs associated with ancillary industries that feed parts and materials into GM autos and depend upon that industry - steel, plastics, manufacturing parts industries - that will also have to rehire people and increase production to meet the needs of their client GM.

The recession isn't going to end magically all at once, with everyone going back to work all at once. Every step in the right direction is good.

[dellinger63]

Originally Posted by Riot

People going back to work in America is unworthy of a big hooray?

Except that far more than 1350 people are affected. The families who now can come off unemployment, food stamps, and Medicaid (that makes me happy, because I help pay for that), and keep their houses, buy groceries, and have a little disposable income to put back into their local economy and keep them solvent and maybe cause some new hires (like florists, the local pizza place, the dry cleaner); in addition to the couple of thousand jobs associated with ancillary industries that feed parts and materials into GM autos and depend upon that industry - steel, plastics, manufacturing parts industries - that will also have to rehire people and increase production to meet the needs of their client GM.

The recession isn't going to end magically all at once, with everyone going back to work all at once. Every step in the right direction is good.

Except we could have paid each one $2,000,000.00 (two Million Dollars) kept just under 400K for us and sent home all these workers processing the rebates that aren't getting processed (duh it's the Government) saving more money, saved a forest load of wood used to make the paperwork, shut off all the lights in those rebate processing offices and each compensated worker could start a small business that would employ mutiples of 1300. You know the Republican way!!!! Plus those no good government rebate workers could go work for private insurance companies and learn how to actually 'process' in between breaks.

[Riot]

Originally Posted by dellinger63

Except we could have paid each one $2,000,000.00 (two Million Dollars) kept just under 400K for us and sent home all these workers processing the rebates that aren't getting processed.

Your math leaves out alot.

More terrible news for you: It's so successful it's ending Monday; 40% of claims have been processed, should be current next week; so far auto dealers have made deals worth $1.9 billion (helping save their small businesses, their employees jobs, contribution to their local economies, etc) and the incentives have generated more than 457,000 vehicle sales (getting gas guzzlers off the road, and newer more efficient cars on, and prompting gearing back up of the auto industry, with rehiring of employees, etc).

And Hyundai recalled 3,000 workers in Alabama.

[dellinger63]

Originally Posted by Riot

Your math leaves out alot.

More terrible news for you: It's so successful it's ending Monday; 40% of claims have been processed, .

What you want another 3 Billion? And 4% not 40% have been processed. But then again your math dictates you pay $120 instead of a $30 co-pay to keep your insurance from being increased. Lastly good for Hyundai they're laughing all the way back to Korea as are their Japanese neighbors. At least they should need less aid next year. Maybe we can recoup some then, but I won't hold my breath.

[Riot]

Originally Posted by dellinger63

What you want another 3 Billion? And 4% not 40% have been processed. But then again your math dictates you pay $120 instead of a $30 co-pay to keep your insurance from being increased. Lastly good for Hyundai they're laughing all the way back to Korea as are their Japanese neighbors. At least they should need less aid next year. Maybe we can recoup some then, but I won't hold my breath.

Too bad "American" companies don't make an efficient, well-made car people preferred. You said you bought "foreign", so you supported them yourself.

Those 3000 American Hyundai workers are probably laughing all the way back to the bank, off the unemployment lines, too.

[dellinger63]

Originally Posted by Riot

Too bad "American" companies don't make an efficient, well-made car people preferred. You said you bought "foreign", so you supported them yourself.

Those 3000 American Hyundai workers are probably laughing all the way back to the bank, off the unemployment lines, too.

I bought one because of its warranty and reliability MPH 24 etc but I did it on my own w/o $3 f'n billion dollars and expenses for the snail paced Gov. workers or the $4,500 in my pocket. Smart people would have come to this like decision anyway and why this move (cash for clunkers) was like pushing a pawn in front of a king after your Queen was begot. That’s why the GM bail was the start of a bad gambler chasing a bridge jump.

OB now wants to expand Medicaid as part of the new step-by-step program? What about the 2/3 of the $$$$ you (talking to Riot) spoke about? We still haven't heard the sad stories of the poor guy who bought a car using the $4500 as a down payment and bought a vehicle for 20K that was 16K pre clunker money @ 25% interest and they'll somehow blame the dealers. Give it 200 days. Can't fix a clunker with parts or stupid with insurance. To try will nickle and dime and billion and trillion yourself to death.

[hi_im_god]

Originally Posted by dellinger63

I bought one because of its warranty and reliability MPH 24 etc but I did it on my own w/o $3 f'n billion dollars and expenses for the snail paced Gov. workers or the $4,500 in my pocket. Smart people would have come to this like decision anyway and why this move (cash for clunkers) was like pushing a pawn in front of a king after your Queen was begot. That’s why the GM bail was the start of a bad gambler chasing a bridge jump.

OB now wants to expand Medicaid as part of the new step-by-step program? What about the 2/3 of the $$$$ you (talking to Riot) spoke about? We still haven't heard the sad stories of the poor guy who bought a car using the $4500 as a down payment and bought a vehicle for 20K that was 16K pre clunker money @ 25% interest and they'll somehow blame the dealers. Give it 200 days. Can't fix a clunker with parts or stupid with insurance. To try will nickle and dime and billion and trillion yourself to death.

what?

chess? medicaid?

help me out here. what did you just say? in a nutshell please.

[dellinger63]

Originally Posted by Riot

Your math leaves out alot.

More terrible news for you: It's so successful it's ending Monday; 40% of claims have been processed, .

Riot they lied to you or you just made up a number! And again if this is even a slight indication of how Health Care would run we're in deep shhhhiiiiiittttt. Maybe OB should start w/a single Dr.'s office and only treat congress?

During the month long program, Billion Automotive sold close to a thousand vehicles but has only been reimbursed for 272 of them. Vern Eide sold over 200 cars and has only been paid for 27 of them, and that's fueling lots of concerns in the auto industry.

Even though Billion is beginning to get some of his reimbursement money, he's still concerned because he says there doesn't seem to be any rhyme or reason to the program.

When Cash for Clunkers was first announced, dealers were supposed to be reimbursed within 10 days of a sale. Billion says that hasn't happened.

"The program started in July and we haven't gotten paid for cars we sold back then, but then on the other hand we got paid for a car we sold last week. They don't have an accurate format. It's not like they're taking the first deals that were submitted and working those. I don't know how they're doing it, no idea. I know it's very random" Billion said.

"We had a situation where we had a submission, they rejected it for multiple reasons. We didn't see anything wrong with it, so we resubmitted it. They rejected, we resubmitted it. They rejected it, seven times and finally they paid it, and we never changed a single thing on it," Billion said.

http://www.keloland.com/NewsDetail6162.cfm?Id=89419

[Cannon Shell]

Originally Posted by dellinger63

Riot they lied to you or you just made up a number! And again if this is even a slight indication of how Health Care would run we're in deep shhhhiiiiiittttt. Maybe OB should start w/a single Dr.'s office and only treat congress?

During the month long program, Billion Automotive sold close to a thousand vehicles but has only been reimbursed for 272 of them. Vern Eide sold over 200 cars and has only been paid for 27 of them, and that's fueling lots of concerns in the auto industry.

Even though Billion is beginning to get some of his reimbursement money, he's still concerned because he says there doesn't seem to be any rhyme or reason to the program.

When Cash for Clunkers was first announced, dealers were supposed to be reimbursed within 10 days of a sale. Billion says that hasn't happened.

"The program started in July and we haven't gotten paid for cars we sold back then, but then on the other hand we got paid for a car we sold last week. They don't have an accurate format. It's not like they're taking the first deals that were submitted and working those. I don't know how they're doing it, no idea. I know it's very random" Billion said.

"We had a situation where we had a submission, they rejected it for multiple reasons. We didn't see anything wrong with it, so we resubmitted it. They rejected, we resubmitted it. They rejected it, seven times and finally they paid it, and we never changed a single thing on it," Billion said.

http://www.keloland.com/NewsDetail6162.cfm?Id=89419

Surprising considering how effective and organized Govt programs usually are....

[Antitrust32]

http://www.philly.com/philly/opinion...ay_dearly.html

[timmgirvan]

Originally Posted by Antitrust32

http://www.philly.com/philly/opinion...ay_dearly.html

I have a plan similar to the plan described in this article, and I wouldnt be able to continue the plan either.Capitation in healthcare diminishes the doctors interest in patient......because there is a cap per patient. It's probably the main reason doctors are driven to a "niche" in medicine that is outside the regular family practice.

[Riot]

Originally Posted by Antitrust32

http://www.philly.com/philly/opinion...ay_dearly.html

Good argument for exactly why we need healthcare reform. He seems to favor a completely government-run single-payer plan, though. I don't want that, but do want a government option.

[Riot]

Originally Posted by Cannon Shell

Surprising considering how effective and organized Govt programs usually are....

That reminds me of the IRS - this past spring my accountant did my taxes, filed electronically, and the refund was electronically deposited in my account in 10 days.

[Cannon Shell]

Originally Posted by Riot

That reminds me of the IRS - this past spring my accountant did my taxes, filed electronically, and the refund was electronically deposited in my account in 10 days.

Yeah the IRS and its inane tax code are a model to strive for...

I mailed a letter and it got there.
The Post office must be great

[Riot]

Riot they lied to you or you just made up a number!

I can only read and quote the same internet blogs, news, press releases you do.

Who's "they" ?

[dellinger63]

Originally Posted by Riot

I can only read and quote the same internet blogs, news, press releases you do.

Who's "they" ?

Good question as you didn't post a link to wherever you read rebates were 40% complete (almost 2 weeks ago). I obviously don't read the same blogs because I never saw that. Maybe Huffington? Salon? If it came from the WH it obviously was mispeak.

[Riot]

Originally Posted by dellinger63

Good question as you didn't post a link to wherever you read rebates were 40% complete (almost 2 weeks ago). I obviously don't read the same blogs because I never saw that. Maybe Huffington? Salon? If it came from the WH it obviously was mispeak.

Rarely go on Huffington, never Salon. Probably USAToday, CNN, Daily Beast, etc.

What does the amount of claims reported submitted and processed 2-3 weeks ago for the first portion of the program, have to do with the amount of claims submitted and processed well after that time, in the second half of the program after it was extended?

We'll have to see how long it takes them to pay off for this second part.

The main problem for car dealers is their usual banking loans for getting cars on the floor have dried up, creating a huge cashflow problem for them.

[Danzig]

http://www.msnbc.msn.com/id/32513705...s-white_house/


The Obama administration expects the federal deficit over the next decade to be $2 trillion bigger than previously estimated...


The new projection, to be announced on Tuesday, is for a cumulative 2010-2019 deficit of $9 trillion instead of the $7 trillion previously estimated. The new figure reflects slumping revenues from a worse economic picture than was expected earlier this year. The officials spoke only on the condition of anonymity ahead of next week's announcement.

...could create anxiety with foreign buyers of U.S. debt.


In its earlier projections, the White House said the deficit would be manageable if it slides to 3 percent of gross domestic product. Earlier projections barely met that standard — even after relying on optimistic assumptions like the wars in Iraq and Afghanistan costing $50 billion a year instead of the $130 billion budgeted for 2010.

Now, the deficits could easily exceed 4 percent of GDP, even after cost-cutting efforts or new revenues claimed in Obama's budget.

Such deficits have always prompted Congress and the White House to take politically painful steps to curb them, such as former President Bill Clinton's tax-heavy 1993 deficit reduction plan. A companion effort by Obama could force him to break his promise to not raise taxes on individuals making less than $200,000 a year.

[Danzig]

Originally Posted by Riot

People going back to work in America is unworthy of a big hooray?

Except that far more than 1350 people are affected. The families who now can come off unemployment, food stamps, and Medicaid (that makes me happy, because I help pay for that), and keep their houses, buy groceries, and have a little disposable income to put back into their local economy and keep them solvent and maybe cause some new hires (like florists, the local pizza place, the dry cleaner); in addition to the couple of thousand jobs associated with ancillary industries that feed parts and materials into GM autos and depend upon that industry - steel, plastics, manufacturing parts industries - that will also have to rehire people and increase production to meet the needs of their client GM.

The recession isn't going to end magically all at once, with everyone going back to work all at once. Every step in the right direction is good.

millions out of work, and 1350 makes a difference? lol
unemployment is expected to remain above 10% for some time-and once cash for clunkers dries up, and demand dissolves, where will those 1350 be? so yeah, a hooray for them-but not a big one.

[Danzig]

and now i see cash for clunkers ends monday. probably because they're so far behind processing payments they don't know where they even stand at this point. i wonder how many dealers will end up holding the bag?