Cash for Clunkers a Massive Failure - A Really Massive Failure

And these same buffoons want us to believe they can run our health care. Can they do anything right? Anything?

The National Automobile Dealers Association is urging the federal government to begin shutting down the Cash for Clunkers program immediately.

In a statement released Wednesday evening, NADA said that, given the rapid pace at which deals are being done, it will be difficult to say when the program’s funds may run out.

Transportation Secretary Ray LaHood said earlier Wednesday that all dealers would be reimbursed.

However, the NADA said, in its statement, that the group had “confirmed elsewhere” that dealers would not get paid if cash ran out.

In a survey of nearly 800 dealers,

* 97% of dealers who responded, say the government is not reimbursing fast enough
* 13% of dealers have dropped out the program because the government is not reimbursing fast enough
* 87% percent of dealers are concerned the money will be exhausted
* 3% of CARS program deals have been reimbursed
* 66% of dealers have not received one payment from the government
* 25% of dealers are experiencing severe cash flow problems that require short-term loans to alleviate
* 11% of submitted applications have been approved (though dealers still are waiting for the money)
* 16% of submitted applications have been rejected
* 55% of dealers are not confident they will get reimbursed for every deal
* 40% do not want the program to continue, even if changes are made to the CARS program