David Kirkpatrick

July 31, 2009

“Cash for Clunkers” too popular

Filed under: Business, Politics — Tags: , , , , , — David Kirkpatrick @ 12:32 pm

Rendering visible a point long obvious — Main Street needs, wants and will put to good use federal bailout money.

From the link:

The House rushed Friday to pump $2 billion into a popular cash-for-clunkers program running near empty, with a leading Democrat saying ”consumers have spoken with their wallets.”A floor vote was under way at midday on the bill to refuel the car-purchase program. House Majority Leader Steny Hoyer had said earlier that the additional money would come from funds Congress approved earlier in the year as part of a $787 billion economic stimulus bill.

Hoyer, D-Md., said that at the request of House Republicans — whose approval was required for swift passage — the bill would include provisions for government auditors to make sure the money was being spent as intended.