Was it worth it?
Friday, October 30th, 2009 | Author:

There has been some debate over the recent government run program called “Cash for Clunkers”. The program allowed consumers to buy new vehicles and get a rebate of $4,500 dollars to do so. The program was intended to help the ailing auto industry and to help get the economy moving again. Some critics think it was a waste of money.

There are studies that argue that the program which cost U.S. taxpayers 3 billion dollars did little to help the economy. There are some estimates that each car sold cost the taxpayers well more than the 4,500 dollar rebate. The White House has defended the program saying that they stand by their numbers and that the program was a success. I guess only time will tell who was right or not.

Category: Money and Finances, News, vehicles |  Comments off