I am the only one who remembers "Cash for Clunkers"?

Well, that was a government program, if you didn't know.
It's official name is Car Allowance Rebate System (CARS).

The government wanted to have more fuel efficient cars on the road. So this program was allocated $1 Billion dollars. It officially started on July 1, 2009, but the processing of claims did not begin until July 24. The deadline for dealers to submit applications was August 25.

According to estimates of the Department of Transportation, the initial $1 billion appropriated for the system was exhausted by July 30, 2009, well before the anticipated end date of November 1, 2009, due to very high demand. In response, Congress approved an ADDITIONAL $2 Billion.

You might say this is a success, right? NO. Total Cost: $3 BILLION. They anticipated only $1 Billion in rebates. THEY WERE WRONG. and the Auto Industry had to pay for this nonsense! Coincidently, GM was un-profitable, until 2011. The US Government gave them a handout, too!

This is ridiculous!