The Cash for Clunkers program did what it was supposed to do: It got shoppers into car showrooms and turned them into buyers.
The program is so successful that the $1 billion dollars allocated to fund it has already been spent. It may even be over budget given the time lag between selling the new car and getting the paperwork approved by the government.
Although I am not a fan of the government managing non-government functions, and I recognize that at its core this program is just moving tax money from one person to another, at least Cash for Clunkers worked. It is one of the few stimulus initiatives that actually stimulated something.
Close to 23,000 cars have been sold. That's a lot of churn. Churn this economy can use.
Maybe Congress will do something else useful and move more of the unspent stimulus money into the Cash for Clunkers program.
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