Clunkers Program Rescued
The New York Times reports that the House has voted $2 billion to extend the “cash for clunkers” program.
President Obama praised the legislators for moving quickly.
“We’re already seeing a dramatic increase in showroom traffic,” he said, adding that the program helps to reduce air pollution while helping car buyers.
So, the program has been rescued with a healthy transfusion of additional taxpayer dollars.
It has been resuscitated and is again alive – even though new car buyers quickly exhausted the $1 billion that Congress originally expropriated.