The government is preparing a plan to wind down cash for clunkers, that glorious gift to the automakers.
In two days, Transportation Secretary, Ray LaHood will release updated information on the program, including how much money is left in the coffers, as well as how long the program will last, the Wall Street Journal reports. He recently said it has enough money to hang on until labour Day, September 7th. No word on whether or not that changed.
Hopefully, this will close the book on cash for clunkers permanently, as well as cash for clunker-homes, cash for clunker-fridges (even though we liked that one) or any other cash for something that might spring up.
How will you remember this Great Recession program? As a smart plan that gave the economy a little jolt when it needed one? Or a disaster on par with the government senslessly slaughtering pigs during the Great Depression?
Guess it all depends on whether or not you bought a car with the government’s $3,5000-$4,500 coupon.
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