Cash for Clunkers = Fail

On Monday, the Cash for Clunkers program will be ending, as the $3 billion that the government provided for the program has run out earlier than expected. The Wall Street Journal reports that both Chrysler and General Motors have started to give dealers money to help the dealers, while waiting for the funds from the Department of Transportation.

Many dealers had to stop participating in the program due to the delays in payments. Meanwhile, the government (surprise, surprise) is behind on the payments. I wonder why…could it be due to this news?