Is this a good thing or a bad thing?
Congress allocated close to $1 billion for the Cash for Clunkers program. That’s billion with nine zeros. And all that money might be gone by midnight tonight.
On one hand, a lot of cars, both foreign and domestic were sold. On the other, it’s already over. On one hand, the industry was stimulated, if even for only a couple weeks. On the other, we borrowed the money to do it.