Cash for Clunkers Is Record-Setting Success
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The Obama administration’s “cash for clunkers” program, which expired yesterday, was a smashing success. It delivered important benefits to the environment and the U.S. economy, the UAW says. And one highly respected analyst reports the program spawned record car sales.
UAW President Ron Gettelfinger pointed out that consumers responded enthusiastically to the program, which explains why it ran its course faster than anyone expected. He says:
In just a few weeks, Americans have traded in hundreds of thousands of older vehicles for new, higher-mileage models.
The result is higher fuel economy, lower carbon emissions—and an increase in production and employment that means increased opportunity for American workers and American companies.
