The U.S. DOT is reporting the popular Cash for Clunkers program sold more than 690,000 automobiles in three weeks. The program's price tag came in at $2.88 billion, just under budget. Now if you watch Fox News or get your talking points from Rush Limbaugh, this means the program was a dramatic failure. To them, endless war, $1 trillion spent in foreign countries, turning the largest surplus ever into the largest deficit ever equals true patriotic success. It's a bizzaro world.
One thing I'm noticing that is not being mentioned in the media is that Japan and Canada are paying for about 50% of the $2.88 billion. This sounds like a good deal to me. Tax payer money going right back to tax payers and hundreds of thousands of gas guzzlers off the road. Mission Accomplished anyone?
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