cash for clunkers to first-time home-buyer plans to subsidized health-care benefits, here’s how to make the most of the government’s new programs. Critics say that all of the moving parts of the Obama stimulus plan are barely moving at all—that the broad package of economy-goosing goodies isn’t being managed aggressively enough to produce results. The mortgage-modification program has barely scratched the surface of the 1.6 million properties headed for foreclosure, and the Feds are still fine-tuning programs aimed at would-be refinancers and car buyers. “I don’t get the sense of urgency,” Senate banking committee chairman Christopher Dodd said at recent oversight hearings.
But for consumers, it might all be moving too fast. Blink and you might miss the whole “cash for clunkers” program, which starts on July 24 and will only be on the table for a little more than three months. Also, there’s a good chance the $8,000 refundable tax credit for first-time home buyers will expire before lenders figure out how to use it. Laid-off workers, car shoppers, and homeowners have to keep up with ever-shifting program guidelines and procedures while keeping a list of varying deadlines in mind.
