8/26/2009

Will the government run health care as well as it is running the "cash for clunkers" program

The original one billion dollars was supposed to originally last until October 1st. Obviously it didn't make it an entire week. More people wanted to get the subsidy than the government predicted. Even the additional $2 billion didn't last until September as promised. On the other side is the problems that the government is failing miserably at getting the money it should to car dealers.

Through early Tuesday, dealers had submitted 665,000 vouchers totaling $2.77 billion. Many dealerships have worked overnight in recent days to submit each trade-in vehicle's 13-page reimbursement application, including the title, proof of registration and proof of insurance.

Chuck Eddy, a Chrysler dealer in Youngstown, Ohio, completed more than 100 Clunker deals in late July and August and wrapped up his final deal on Saturday afternoon. He considers the program a "true, true stimulus" but said he's still owed $390,000. "I still haven't been paid my first dollar," Eddy said. "That just makes you a little nervous."

"It's the best program we all hate," Eddy said.

Jim Arrigo, who owns two Chrysler dealerships in south Florida, estimated that his two stores are owed more than $1 million for 270 deals through the program. He has only received payment for six vehicle sales.

"Thank god that we have the cash flow to make it but in some cases, a lot of dealers, it's been very difficult for them," Arrigo said. . . .

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1 Comments:

Blogger 1 said...

Hmmm, how about, 'will government run health care be run as well as medicare'?

From the American Spectator by Jeff Emanuel: At its inception in 1966, Medicare carried an annual price tag of $3 billion. Its Congressional founders predicted that cost would rise to $12 billion a year by 1990 -- a figure that accounted for inflation.

The true cost of Medicare is stunning. In 1990, rather than costing American taxpayers $12 billion, Medicare cost $107 billion -- an increase of 800% over the government's best guess at the program's cost 23 years before. That cost has increased exponentially as the years have passed since 1990. This year, $484 billion will be spent on mandatory Medicare outlays; by 2018, that number will be $885.1 billion, according to the non-partisan Congressional Budget Office. The total amount owed Medicare beneficiaries (American workers who are at least 22 years old and who have paid into the system, meaning they are due Medicare coverage upon retirement) is a staggering $32.3 trillion -- an amount over twice America's GDP, and nearly five times the publicized national debt
...

8/26/2009 4:42 AM  

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