Cash for Clunkers – It’s working!

As you may have heard in the news, the Cash for Clunkers program ran out of money after four days of operation.  Yes, four days.  It was supposed to run for four months. To ensure that clunker-owners don’t fret about not getting free money after trading in their old car, the House of Representatives approved a $2 billion infusion into the program to keep it financed.

First of all, if I were the one responsible for coming up with the funding estimates for such an initiative I would be absolutely embarrassed right now. Financing ran out in 1/30th the time it needed to last. Really? 1/30th? Really. Continue reading »

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