Is the Cash for Clunkers Program Working Too Well?

The government’s cash-for-clunkers program appears to be working like a charm, so — time to shut it down. Good old Washington! Offering rebates of up to $4,500 to folks trading in their gas guzzlers for new, more fuel-efficient cars, the program has been everything a stimulus package ought to be: a quick and efficient way to spur private-sector spending in support of a worthwhile civic goal. Congress put up $1 billion for the program, which it found under the sofa cushions in a room where they were meeting to discuss this year’s proposed $3.5 trillion budget.