Some aspects of the US government's economic recovery efforts focus on the transition from a dirty energy economy to a cleaner energy economy. The Cash for Clunkers program went into effect this past week and has proven to be a very stimulating initiative with new cars flying off showroom floors for the first time in recent memory.
It rebates up to $4500 for the trade-in of an older, gas-guzzling car with the purchase of a new, more energy efficient model.
In fact, the program worked so well, the well ran dry. Congress appropriated $1 billion for the program, which is set to expire November 1st, but the rush of new car buyers drew that down in the first few days. Late word is that Congress will bump the program up by another $2 billion.
Visit cars.gov for details on how to trade your clunker in for carbon-eating cash.