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Cash for Caulkers – What is it?

The government has announced a plan for a new program called Cash for Caulkers. The program has great intentions: conserving energy and saving homeowners money. The idea is the government will reimburse homeowners up to 50 percent of the cost of home improvements that conserve energy use in homes.

Like I said, it has good intentions. I have some doubts about this program, and it’s name is one of them. I’m not going to try to mask or hide my loyalties here: I am an Obama supporter all the way. That doesn’t mean I agree with the White House on everything, and this is definitely something I don’t think of as a great idea. Don’t count on paying for home improvements with a short term personal loan and getting the government’s reimbursement in time to pay it back.

Invoking a laughingstock

Cash for Clunkers was an not a great program. Argue all you want, but it operated way behind schedule and ran out of money way ahead of schedule. It was also the punchline of jokes, and many were not amused when they didn’t get the rebates they were expecting as promised and it went broke WAY before it was supposed to.

First, the name Cash for Caulkers implies that this program awaits the same fate, and the Beavis and Butthead faction will likely have jokes as well. Additionally, the holes in the Cash for Caulkers regulations make it look likely.

Details on Cash for Caulkers

So far, there is no income limit for who can take advantage of Cash for Caulkers, only a $ 12,000 limit on reimbursement. So people can do up to $ 24,000 worth of projects that make their homes more energy efficient and be reimbursed for up to half of it.

Obviously, the bill isn’t finished, and it likely will go through many changes before it’s done, but that’s the idea.

Too much too soon

The first thing that needs to be changed is the name. I likely wouldn’t have reacted so negatively if this proposed program had a different title. Also, only people who can’t afford the alterations already should be eligible so the budget could go further.

Energy efficient homes can save owners about 20 percent annually on power bills. Those who can afford energy efficient appliances and weatherizing their homes have enough motivation to do so anyway, it isn’t as if the need Big Brother to give them a financial cookie.

Independent contractors will have to figure out if a project increases the energy efficiency of a home. There are a lot of ways people could defraud the government. It’s tough to admit, but Cash for Caulkers looks to be more trouble, and cost more money, than it is worth. After all the money that has been pumped into the economy with little to show for it, it might be a good idea to wait until the White House has some positive results to show for its efforts before starting this program.