Money and Cash For Clunkers: Obama administration hopeful
Filed under: Autos | By: Alan Ng
Posted on: August 3, 2009 | 1 Comment
More on the Cash For Clunkers program now, as it has been reported that the Obama administration remain optimistic that the US Senate will extend the Cash For Clunkers program to a further date.
According to Reuters, the extension is good news for everyone concerned, but it is also thought that the program could be suspended during the week, without funding.
However, the Obama administration expects the approval of funding will go ahead as planned, which will earn consumers up to $4,500 for trading in their cars in favour of new fuel efficient ones.
Seems like the program is doing well so far, much to the delight of auto dealers. Let us know what you think. Read the full article over at Reuters.
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Wherever this scheme has been in operation in the continent and other places it has been good for the economy. When I think of all the billions given to the financial sector and the issue of greedy compensation payments to people already paid too much raising its ugly head already its really nice to see a scheme that actually helps the ordinary person the auto industry and the econmy so why tamper with it. Put the mpg required up of the new car being bought considerably and perhaps make the credit amount slighty less and leave it aalone. Of course the Ford Focus is doing well as should the Fiesta because they are good cars and cheap to run. More power the the Clunkers elbow.