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Government 'Cash for Clunkers' Program Begins

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'Cash for Clunkers' incentive started Friday and will continue until the $1 billion is used up.

From LA Times:

(WGN-AM)- After two decades and 126,000 miles, John and Susan Musinski's 1990 Ford Econoline has made its final run.

Belching black smoke and rusting from the wheels up, the once-rockin' van -- replete with curtains, a TV and even a CB radio -- made the 25-mile trek from Lake Villa to Gregory Hyundai in Highland Park, ready to take its place on the scrap heap in return for a new fuel-efficient car and a fat $4,500 government rebate.

Lured by the government's "Cash For Clunkers" program, which is set to launch officially on Friday, the couple are among the first to trade in an aging, gas-guzzling ride through the $1 billion initiative designed to jump-start sagging auto sales.

Read the full article.

Other Related Topics: Consumer Spending , Foreign Automakers , Stimulus Plan

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