Why Should We Cash in Our Clunkers?
August 28, 2009--A few days before the Car Allowance Rebate System (CARS), better known as the “Cash for Clunkers” program, was brought to an end on Monday, August 24, President Obama said that it had been “ successful beyond anyone’s imagination .” With rebates of either $3,500 or $4,500 up for grabs, approximately 700,000 gas guzzlers were traded in for more fuel-efficient models. While there has been some noise about the U.S. Department of Transportation being slow to reimburse car dealers, and some protectionists complaining about purchases of foreign vehicles, supporters are nonetheless hailing the program’s results as a boon for the environment and for the economy.
1. Juni 2011
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