Fox News just published an article on their website with news that the White House has made plans to end the Cash for Clunkers program this Monday. Check out this exerpt from Fox News:

“Through Thursday, auto dealers have made deals worth $1.9 billion and are on pace to exhaust the program’s $3 billion in early September. The incentives have generated more than 457,000 vehicle sales. Administration officials said they have reviewed nearly 40 percent of the transactions and have already paid out $145 million to dealers.”

The program accomplished it’s goal of taking fuel inneficient cars of of the streets. As if spending $3 billion on the program wasn’t enough, 6 out of 10 of the most sold cars through Cash for Clunkers were foreign. So all of those sells didn’t do a thing to stimulate our economy.

Calvin

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