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Bunkers that's also something -- think about today because now in the hands of the senate.
Facing the prospects of ending this program the administration's been lobbying Republicans for support but some holdouts are still out there objecting to the cost of at all.
The Treasury Secretary Ray LaHood says where the transportation secretary should -- that the program could end as early as today at the senate doesn't approve two billion more dollars for.
The white house press secretary Robert Gibbs says the money could last until the weekend but the senate -- that program then they can run it through September.
While lobbying for support the administration reportedly telling senators 120000.
Deals have been put through the system and roughly a 100000 more.
Could be coming until the money runs out.
There's little doubt if you look at the numbers the cash for clunkers program is boosted July auto sales all the major auto makers -- better -- then.
They -- have in June and compared to last year -- -- look at those numbers right side of your screen Ford actually eked out a small gain and the declines for the likes of Chrysler and GM were smaller than they were expected today.
Joining us get is cannot attract back with a sunset is love Paul -- them IG investments in Charles -- it.
We haven't had -- gone so far on the cash for clunker program and some of the results that we've seen yesterday what do you think so far.
I gotta tell you guys yesterday morning -- my hotline I asked people what they thought about it the most incredible amount of humans have ever gotten almost 300 you know so far.
Not -- percent hate the program.
And you know one of the problems -- you know it's one of these things that.
You -- -- as they say were to the 4500 dollars come from you know then and again you know we have we talk about the success -- auto sales weren't as bad as we thought.
But that you know a couple things I did notice if you look at the year over year trends and if you look at the year to date trends in terms of market share four.
Actually looks like they're getting a little market -- but still General Motors and Chrysler losing market share.
-- that it's let's say it's one of these things that if taxpayers.
Who put money into the system could be the ones -- benefit but.
It's still really wanna be shaking things although -- a billion dollars what it specifically what an email from what it not life.
Oh my goodness amazing some -- while some were just really upset about the idea that you actually get people who have a good running car.
And -- -- -- to now having a monthly payment.
And although like a lot of liberals are saying we'll announce a chance to people who never could afford to buy new -- now they have a new car.
But it sounds vaguely familiar like the housing situation where you know what a lot of things are done from the community reinvestment act on and so forth.
To sort of usher people into homes that ultimately they couldn't afford so here we are -- little over recession.
We're people who who had a vehicle that was running pretty well right are now now they have a monthly built some people thought it was a senate we were taking cars that work and destroying them anyway.
And then those are just upset that taxpayer money was going through this.
Where are -- but what do you make of those arguments.
Paul and obviously the administration assembled we want to have more fuel efficient.
Vehicles on the road and that's kind of an ancillary effect of this that they think it's a positive Charles is well some people don't agree -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- There are out there I think that -- as we're talking about earlier on the the problem with that did the -- slowdown in the velocity of money that with the -- they're trying to -- also trying to put it to me give some -- some money that I -- -- -- spend.
Again of what went easy just that you choose some sectors.
The population and some sector business to be the beneficiaries of that patent taxpayers' expense nothing that says you know that's the -- -- You child to -- the larger point post 9/11 we saw 0% financing for auto makers really for the first time when people -- really Friday.
Yet again incentivized business after at a horrendous terrorist attack in what happened for a lot of the automakers -- they never pulled back at 0% financing just became.
The norm that you would be able to get something like that so it brings up the question again Charles and to your point about.
How are landing -- going -- -- for the housing market or for the auto makers.
How easy it really should be we see banks pulling back but then you get -- the public outrage -- -- pulling back lending and now I gonna get this blacklist as well today.
For mortgage lenders that are not refinancing.
Or mortgage modifying fast enough so where's the balance it was.
That's -- -- I think a private business should be able to do what it wants to do you know that take on in my own money problem has been with the banks have taken taxpayer money I thought there should have been some strings attached to that.
I mean it's hindsight now because those strings weren't attached.
So it and that circumstance -- actually arrive at the end of the day.
A bank wants to win money it should want to lend money because that's his business model right that cats it's you know the -- of the liability it's not an -- so.
You know it's we would hope that it's -- -- at some part in the near future they would start to feel comfortable not loaning out this money.
You know we'll see what happens with that but certainly if this is how the administration is going to get people to buy cars and what's gonna happen that they have alternative to private health insurance are they going to be able to make such crazy crazy discounts.
To put their private health plan.
That have a dead people even if -- happy with the plan and they are happy that doctor it's gonna be irresistible to use that -- if they do make those big massive you know make the prices so low.
We're gonna get the money from and you know it's a chain of events in the entire -- it's -- keep talking about that that'll be the debate going and into the fall of course -- health care I've Charl.
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