The latest federal government effort to control consumer behavior, which was signed into law by President Barack Obama in June but which didn’t go into effect until last Monday, July 27th, reportedly is already foundering. According to the so-called “Cash-for-Clunkers” program (official name, “Cash Allowance Rebate System”), anyone who trades in an older model car, SUV or pickup truck for a new vehicle that gets better mileage, receives a taxpayer-funded rebate of $3500 $4500.
The Brainiacs who conceived this program planned for it to boost US auto sales and help lift Ford, GM and Chrysler out of their doldrums. Strange things are happening on the way to the pot of gold at the end of this government rainbow. One conern is that while many of the vehicles being turned in are American-made vehicles, many of those being purchased with the rebates will be foreign, higher-mileage units. Dealers are having difficulty deciphering the 136-page “instruction”
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