”shall be derived by transfer from the amount made available for “Department of Energy – Energy Programs – Title 17 – Innovative Technology Loan Guarantee Program” in title IV of division A of the American Recovery and Reinvestment Act of 2009 (Public Law 111-5)”.

Public Law 111-5, was passed February 17, 2009.  In it, the Innovative Technology Loan Guarantee Program was appropriated $6,000,000,000.  According to the Congressional Budget Office <PDF>, the $6B’s scheduled outlays were (in millions):

|| 2009: $60 || 2010: $1,200 || 2011: $1,500 || 2012: $1,500 || 2013: $1,200 || 2014: $540 ||

They were allocated $6B, over 6 years, with $60M scheduled in 2009 – TO BACK INNOVATION LOANS.

Now, they will “transfer” $2B.   Technically the money is not there – it’s loan guarantees. Even if it did exsist, only $60M would be availible per the budget…

Additionally, Freakonomics points out, Congress originally set aside $1 billion to fund the program. If all of that money was going to pay these subsidies, there would be enough money to pay for 250,000.

The Transportation Department, which has collected details on about 157,000 rebate requests, won’t release sales data that dealers provided…