Friday, July 31, 2009

Math for idiots: If it takes 1 week to run out of money with 1 Billion giveaway, how long will another 2 Billion last?

Truly puzzling. Is congress assuming that after it gives away 4500$ to everyone who owns a worthless car, there won't be more people lining up to get free money?

Some are pointing to this story as if: "Look the DNC programs are working! People are lining up to rescue the auto business", where in fact - sensible people are taking advantage of yet another government hand out at tax payer's expense. Of course congress doesn't think twice about releasing an extra 2 Billion, we are all accustomed by now to congress spending money it doesn't have.

House Approves $2 Billion Boost for 'Cash for Clunkers' Program
The House passed emergency legislation Friday approving an additional $2 billion for the "cash for clunkers" program, whose immediate popularity this week threatened to sink the fledgling program.

A Senate vote is expected next week on the emergency infusion and could come as soon as Monday. The House scrambled to schedule their vote on the final day of their session before a month-long summer recess.

Skipping over regular procedure to obtain an immediate floor vote, House Democrats' presented a bill that would shuffle around funds from the Recovery and Reinvestment Act, an emergency stimulus for the original $1 billion budget for rebates on new cars that lawmakers worried had been exhausted in only a week. The bill passed 316-109.

President Obama said he was "very pleased" that lawmakers had moved quickly to save the program, but Republicans blasted the speed of the vote, accusing Democrats of jamming the legislation through. The bill includes hand-written marks on its margins, a sign of the haste in which the legislation was written.

Hand written comments, I can only imagine what those look like; "Oh yea, and nother 10K to my uncle buck. And oh, I forgot - LOL - isn't this bill gr8!? OMG heheheeehhe"

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