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  • Not vetted for CNN

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    Posted August 20, 2009 by
    natashabisho |
    Location
    Los Angeles, California
    Assignment
    Assignment
    This iReport is part of an assignment:
    Cash for clunkers ending

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    Cash For Clunkers to end August 24th?

    By natashabisho  |  Posted August 20, 2009  |  Los Angeles, California
     

    Thursday, August 20th - The Obama Administration is expected to announce today their plan to end the Cash for Clunkers program as early as Monday August 24th. In the last week many dealerships have complained about not being reimbursed for their clunkers.  (see my interview with a CFC dealership) Transportation Secretary Ray LaHood said today, "We don't want to run out of money. And I want to be able to substantiate what I'm saying here. If you do a deal with us, you submit the paperwork, you will be paid.". (AP)

     

    Time will tell is this program helped or hurt our economy.  With no easy way of tracking the $3 billion that went into the program this could end up being a nightmare for the already struggling auto industry.

     

    Cash for Clunkers: What it is and why it doesn't work

     

    Twitter: LAjournalist  Facebook: Natasha Bishop

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