The Obama administration’s much-ballyhood "cash for clunkers" program, which makes new car ownership a welfare entitlement by offering Americans money to buy new fuel-efficient cars in exhange for certain older, less efficient model, will be suspended at midnight after higher-than-expected demand tapped out its funds.
"Cash for clunkers" faced the same problem every government program deals with when it turns a private good into a public entitlement — people make a rush to grab something they think is "free."
But there’s only so much "other people’s money" out there, forcing government to begin rationing access to the program.
"People are loving it. It’s wonderful," New York car salesman Andy Beloff told WCBS of the increased demand.
But when asked if the government was running the program well, Beloff said, "No. No."
"These are just the deals we have to submit tonight," Crestmont car dealership president Bill Strauss told WCBS, pointing to a stack of government-mandated paperwork. He said the dealership has over $100,000 on the table.
"If they can’t administer a program like this, I’d be a little concerned about my health insurance," car salesman Rob Bojaryn said.