Cash for Clunkers Program 2009

If you are looking for more info on this program, see: http://www.cars.gov/. Basically, the rules are:

Your vehicle must be less than 25 years old on the trade-in date

Only purchase or lease of NEW vehicles qualify

Generally, trade-in vehicles must get 18 or less MPG

Trade-in vehicles must be registered and insured continuously for the full year preceding the trade-in

You don't need a voucher, dealers will apply a credit at purchase

Program runs through Nov 1, 2009 or when the funds are exhausted, whichever comes first.

The program requires the scrapping of your eligible trade-in vehicle, and that the dealer disclose to you an estimate of the scrap value of your trade-in. The scrap value, however minimal, will be in addition to the rebate, and not in place of the rebate.

I'm all for a greener Earth and any program that helps get vehicles with poor gas mileage off the road is worthy of at least an "at-a-boy". As usual, similar to the Obama administration's other stimulus programs, I'd like to know where the $1 Billion Dollar funding is really coming from. Are we just printing more moolah, or taking services away from the elderly?