'Cash for Clunkers' Gets More Cash

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"Cash for Clunkers may have run out of cash, but America's consumers haven't run out of clunkers." That's from Democratic Congressman Ed Markey of Massachusetts, on extending a popular program that ran out of money sooner than anybody expected. It took only a week for eager consumers to burn up a $1 billion in federal money by collecting rebates on 250,000 new cars; it took less than a day for the Congress to come up with another $2 billion. Dana Hedgpeth is a financial reporter for the Washington Post.

Credits

Guest:
Dana Hedgpeth - Financial Reporter, Washington Post

Host:
Warren Olney

Producers:
Frances Anderton, Katie Cooper, Karen Radziner