Of Clunkers and Cash
The Obama administrations bid to jump start the failing auto industry with its cash for clunkers program is showing results. Consumers who trade in their vehicles with poor gas mileage ratings can receive a generous credit from the Government for doing so. The only catch is that they must but a vehicle with better gas mileage. So far, the results have been good.
Many local car dealerships are reaping the benefits of the program. People who may be on the fence about buying a new car are being enticed into the showroom. This has resulted in somewhat higher vehicle sales that would be without it. Environmentalists say it’s a good start on lowering carbon emissions, but more work needs to be done.