July 31 (Bloomberg) -- The U.S. government’s $1 billion “cash for clunkers” program to spur new car sales ran through the money six days after it began, Senator Debbie Stabenow said.
Stabenow, a Michigan Democrat, and other lawmakers called for an infusion of taxpayer money to subsidize more new-vehicle purchases in the effort to revive dealerships and automakers while getting older, less fuel-efficient vehicles off the road.
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For the last 2 weeks, people have been towing, dragging, and pushing cars to the shop for us to get running so they can trade 'em in. Also the fact a lot of dealerships (in this area anyway) are offering to match the government rebate dollar-for-dollar. That comes to around $9000 to put down on a new car. Some places you can walk out with a pretty decent brand new little car for under $10K. Let alone the fact we're getting a buncha shitty old cars off the road. Let alone the fact the auto industry is getting a boost.
No shit the program is popular. I wonder what politicians will do to fuck it up.
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