The House passed it last week, and now the Senate and Obama have signed on, so Cash for Clunkers (known to the gummint as CARS, or Car Allowance Rebate System), which ran out of its first billion dollars in funding in one week, has $2 billion. Interest in the program remains high, so that might not last too long. Meanwhile some enterprising car dealerships have united to create their own Automotive Stimulus Plan, which will allow shoppers whose current clunkers do not come in under the government-mandated 18 mpg limit to trade their cars in anyway for a bonus of up to $4500. It’s a schtick, but a schtick you can profit from. See, Obama hasn’t killed capitalism yet!
This article from the Village Voice Archive was posted on August 7, 2009