8:48 am August 24, 2009, by Henry Unger
It’s time for the post-mortem.
With the $3 billion “cash for clunkers” program winding down tonight, do you think it was worth doing?
On one side of the coin are those who say the devastated auto industry needed a boost. What’s more, consumers got rebates of up to $4,500. And the environment will be better off with fewer gas hogs on the road.
On the other side are those who say this program is just robbing from future sales, so the long-term effect will be negligible. They also say there will be a very limited environmental gain, and it will come at too high of a cost. Some dealers also have been critical of the pace of the government’s reimbursement to them.
So, in the end, what do you say? Thumbs up or down?
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