Cash for Clunkers Gets $2B, Back on Track

by Benjamin Jones on August 9, 2009


It’s certainly a mixed bag of news for many of us, but the government’s “cash for clunks” rebate program has gotten an infusion of new cash and will be up and running through at least the end of the month.

As we recently posted, the program ran out of its first billion after its first week in operation. So, despite all the recent hub-bub around government spending and meddling with the auto industry, they’ve still managed to rush another huge junk of government money out to the aide of an ailing auto industry.

The rush to spend more money on the program, however, didn’t have anything to do with evaluating how successful it has been, either in terms  of environmental impact or stimulating sales. However, early evidence suggests that the dealerships and auto manufacturers are going to be the big beneficiaries in all this.

So, if you were planning on buying a new car and through you might be out of luck, fear not, there will be funds available for at least another few weeks.

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