As of the
Clusterfuck Cash for Clunkers’ official termination at 8:00PM EST Tuesday evening, the Department of Transportation is reporting that a total of $2.88 of the $3 billion fictitious taxpayer dollars allotted has been spent. A staggering 690,114 new vehicles have been purchased using the program, and at least half as many dealers are 6-figures in the hole as they await their rebate check.
To assuage any fears regarding a timely turnaround, the DoT has also reported that they have an estimated 2,000 highly enthusiastic federal employees working around the clock to assure all rebate applications are processed as quickly as possible. Thus, dealers can expect to be repaid sometime around the next lunar eclipse.
Image Cred: Reuters Pictures