"Cash for Clunkers" Runs Out of Gas?

Image from source, WSJ

Well, crap! I am not yet in the market for a new car. But let's face it, my 1998 Jeep Wrangler has seen better days, even if it only has just shy of 50,000 miles on it. It looks great, but it needs about $1,500 in repairs just about every year. And at 15-16 mpg, it falls in the "cash for clunkers" program, even if it isn't a clunker, per se.

I could probably get more (possibly significantly more) than the $4,500 allowed in the program. But our local Jeep dealer was offering (up to) $4,500 in matching cash back. In other words, whatever the government would give you, they would match if you bought a new Jeep. I'm fairly confident that I'd be near the maximum allowed value, meaning I'd be eligible for $8,000-$9,000 for a trade-in! That's a good chunk of the cost of a new Jeep, and at least would end up being far cheaper than this Jeep was when I bought it at two-years-old (in 2000!). Heckuva deal! But alas, the program seems to be out of money. RATS!

[Excerpt]

'Cash for Clunkers' Runs Out of Gas

White House officials and lawmakers were studying late Thursday how to keep alive the government's cash-for-clunkers incentive program because of concerns the program's $1 billion budget may have been exhausted after just one week.

Obama administration officials warned congressional leaders Thursday it planned to suspend the program at midnight. But the White House released a statement late Thursday saying that completed deals would be honored and the program is still under review. . .

Read more at: Wall Street Journal

Jon Stewart on the Economic Simulous Plan

The state of the economy is downright depressing, with new layoffs and more bad news reported every day. So if you want to know just how bad it is, you might as well get the news with a heaping helping of humor--dark humor, but humor just the same.

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How Much Money Is George Bush Sending YOU?

As I said in my previous post on the topic, I acknowledged that I'm not sure if the just-signed economic stimulous plan is a good idea or a bad idea. But the fact of the matter is, the checks will be in the mail this spring. So, how much are you gonna get? For a little background information on exactly what to expect, check this out:

[Excerpt]

How much do I get from the tax rebate plan?

What could be simpler than a rebate? With IRS involved, almost anything

The idea is remarkably simple: To get the economy moving again, you need to get people in a spending mood. What could be simpler than handing out tax rebates? Alas, as with all things related to the U.S. Tax Code, the question of who gets what turns out to be not so simple. . .

Read more at: MSNBC

Bush Signs Stimulous Package

Photo from source, AOL News

The economy is in the tank, and George W. Bush (along with the Congress) has come up with a plan: throw money at the problem! Did that sound sarcastic? Sorry, it's just that whenever Democrats do something like that, "throwing money at the problem" is exactly the charge levelled by Republicans. Just sayin'. . .

[Excerpt]

Bush Enacts Economic Aid Package

The checks aren't in the mail, but they will be soon. President Bush signed legislation Wednesday to rush rebates ranging from $300 to $1,200 to millions of people, the centerpiece of government efforts to brace the wobbly economy. First, though, you must file your 2007 tax return. . .

Read more at: AOL News