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Wednesday, August 5, 2009

Telegraph likes Clunkers Program

The Nashua Telegraph has words of praise for the Cash for Clunkers program:

Yet, in this program we can point to stimulus that is actually working. We have serious questions about whether Obama's recovery program is having such an effect, unless you count paving roads as stimulus.

But through cash for clunkers, dealers report a jump in sales directly tied to the program, not just “end-of-model-year” deals. It has brought people by the scores to showrooms and created a buzz that has given hope to a beleaguered industry desperate for good news. (more)

The Telegraph also points out the waste in forcing hundreds of thousands of working cars to the scrapheap. But the editorial looks at only the benefit of flooding the automotive market with our tax dollars, and not the costs, both to our debt and to the overall automotive market.

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