The government has basically promised 3 billion dollars (that would be taxpayer money; the government has no other) to fund a rebate program to benefit the auto industry.
The money comes from the taxpayers but somehow has not made it to the dealerships who took back the clunkers in exchange for extending credits on new cars purchased.
The government has begun disallowing many of the deals made "after-the-fact", so the dealers are on the hook for money they'll never see.
All of this money has been "borrowed" from the taxpayers, who can only be sure they'll never recoup.
Any stimulative effect is highly selective and of limited and temporary effect.
It sure sounded good, though, huh?
So the bottom line is, as previously noted, 350 million in, 3 billion out.
"Researchers have already cast much darkness on the subject, and if they continue their investigations, we shall soon know nothing at all about it."
-Mark Twain
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