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Article: 'Clunkers' cash fulfilling goal to boosting sales
- Article from:
- The Pantagraph Bloomington, IL
- Article date:
- August 17, 2009
CopyrightCopyright 2009 The Pantagraph Bloomington, IL. Provided by ProQuest LLC. (Hide copyright information)
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The Cash for Clunkers program is a victim of its own success. The
initial $1 billion allocated for the program essentially ran out in
a matter of days as motorists raced to trade-in their gas guzzlers
for more fuel-efficient new cars in exchange for a $4,500 voucher.
The concern about the program increasing the federal deficit
noted by congressmen such as U.S. Rep. Tim Johnson of Urbana who
voted against expansion of the program is understandable and even
laudable.
The latest infusion of cash - $2 billion that is expected to
carry the program through Labor Day weekend - should be the last
infusion of cash.
But the bottom line is that this is one part of the stimulus
program that appears to ...