The Economy Project
(2009-08-20)
The popular Cash For Clunkers program will end Monday night at 8pm.
The original goal of the Cash For Clunkers program was to sell a quarter million vehicles over three months. But in less than a month almost three times that many vehicles have been sold with the $3 billion program. The US Department of Transportation wants to end the program before the money runs out.
General Motors spokesman John McDonald says the clunkers program worked.
"This is the most wildly successful economic stimulus program the government's ever done," says McDonald. "Every single segment of the economy is benefiting from this program."
Many dealers complain the government has been to slow to reimburse them for the clunkers vouchers. Both GM and Chrysler are giving their dealers cash advances while they wait for their government checks. © Copyright 2012, Michigan Radio
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