NEW YORK (CNNMoney.com) — After the mad rush of car sales sparked by Cash for Clunkers, dealers will now find they have plenty of downtime to count their money.
The popular program, which ended Monday, will leave many showrooms without cars to sell or customers looking to buy them.
What do you know? Cash for Clunkers was a great success in the short term, and now what? This doesn’t bode well for Washington’s other ideas for the economy.
NEW YORK (CNNMoney.com) — The $3 billion Cash for Clunkers program will shut down on Monday, the government said Thursday.
Dealers must submit any pending Clunker deals, including any necessary paperwork, by 8 p.m. ET Monday.
“It’s been a thrill to be part of the best economic news story in America,” said Transportation Secretary Ray LaHood. “Now we are working toward an orderly wind down of this very popular program.”
Officials decided to wind down the program, which Congress passed to spur flagging auto sales, after determining that it would soon run out of money.
Why put an end to this when the government can just spend spend spend it’s way out of turmoil.
Kids Like You & Me (KLYAM) 