"The Obama administration will suspend the "cash for clunkers" program unless the Senate provides $2 billion more for the popular car incentive plan, Transportation Secretary Ray LaHood said Sunday. He said he expected the current $1 billion pool to be exhausted before Monday. The House approved an additional $2 billion on Friday and the administration is pressing the Senate to go along before its summer vacation begins at week's end. "If we don't get the $2 billion from the Senate . . . we would have to suspend the program next week" . . . He added, "Any deal that is made (Monday) or the next day and that is in the pipeline, ... the dealer will be reimbursed and the car buyer will be reimbursed." At least one GOP senator questioned the need to speed the money. "This is crazy to try to rush this thing through again while they're trying to rush through health care, and they want to get on to cap and trade electricity tax," said Sen. Jim DeMint, R-S.C. "We've got to slow this thing down."
The rush to spend, on anything and everything, with borrowed money, and without any long term plan or priorities, is unprecedented.
Remember when these people criticized the Bush administration's borrow and spend policies as unsustainable?