The Prof
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FT.com / US / Politics & Foreign policy - Senators to put brakes on ?cash for clunkers?
1. Wow, even The prescient Prof failed to prophesy this present slip up by the president
2. Obama's credibility is crashing a blue streak
3. Just last week, Clunkers cruised thru congress with undiluted democratic endorsement, with a good detachment of red delegates, in addition
4. What a difference a disastrous weekend makes
5. Today, Republicans are fit to filibuster
6. And key dems DiFi, Schumer, Bingaman and McCaskill cavil
7. Health care is dead
8. The dems can't even hold a town meeting on the subject, they'll be pelted with rotten vegetables
9. Most inept political "leadership" in modern American history, makes Carter a Machiavelli
10. He sends out his Treas Secty and Natl Economic Adviser on MTP and FTN Sunday to RAISE TAXES on the MIDDLE CLASS, has to take it all back within 24 hours---LOLOL!
The Prof
The Obama administration’s oversubscribed “cash for clunkers” scheme looks likely to founder in the Senate this week as bipartisan opposition mounted on Monday to the $2bn extension passed last week in the House of Representatives.
Republican senators described the scheme, in which car users can take up to $4,500 (€3,170, £2,710) in government vouchers to trade in their vehicles for more fuel efficient ones, as a “boondoggle” – or a waste of time and money – and all but threatened to filibuster the planned extension. This would almost certainly kill prospects of renewing the scheme before the Senate returns from recess in September.
Republicans also pointed out that the administration had originally estimated the first $1bn in funding would last until November. Instead it is expected to run out in the next few days. “When the administration comes bearing estimates, it’s not a bad idea to look for a second opinion,” said Mitch McConnell, the Senate minority leader. “All the more so if they say they’re in a hurry.”
Prospects for overcoming a Republican filibuster were also dealt a blow on Monday with objections from a number of leading Democrats. Dianne Feinstein, the senator from California, and Chuck Schumer, the New York senator, both want to raise the fuel efficiency standards of the subsidised vehicles, 250,000 of which have now been funded.
Meanwhile, Jeff Bingaman, the senator from New Mexico, objected to the diversion of funds from the $6bn allocated to the Department of Energy under the $787bn stimulus programme in February. It is unclear whether the administration could find other sources of cash to extend “cash for clunkers”, or whether it could move ahead without congressional approval.
1. Wow, even The prescient Prof failed to prophesy this present slip up by the president
2. Obama's credibility is crashing a blue streak
3. Just last week, Clunkers cruised thru congress with undiluted democratic endorsement, with a good detachment of red delegates, in addition
4. What a difference a disastrous weekend makes
5. Today, Republicans are fit to filibuster
6. And key dems DiFi, Schumer, Bingaman and McCaskill cavil
7. Health care is dead
8. The dems can't even hold a town meeting on the subject, they'll be pelted with rotten vegetables
9. Most inept political "leadership" in modern American history, makes Carter a Machiavelli
10. He sends out his Treas Secty and Natl Economic Adviser on MTP and FTN Sunday to RAISE TAXES on the MIDDLE CLASS, has to take it all back within 24 hours---LOLOL!
The Prof