WASHINGTON — The Obama administration tried to regain control of the cash-for-clunkers program Friday, rushing a $2-billion refueling through the House and reassuring buyers and dealers that the plan to spur new car sales was still alive.
Here is the 2 billion dollar question...
Since these are "clunkers", how many of the people with "clunkers" can afford to get a new car and make the payments?
This sounds like a deals on wheels version of Freddie Mac and Fannie Mae home loans.
It's going to be a tough sell to bail out the credit companies that gave credit to people who should not have been getting credit.