Obama's "Car Allowance Rebate System," known for its more popular name, Cash for Clunkers, ended Monday, August 24th at 8 P.M. EST time. According to a press release from the United States Department of Transportation, as of Thursday, August 20, there have been 457,000 dealer transactions which equals to $1.9 billion in rebates. Cash for Clunkers has "provided rebates of up to $4,500 when people turned in their clunkers for fuel-efficient vehicles. Most consumers have turned in trucks and SUV’s in exchange for passenger cars, with an improved gas mileage of about 60 percent." The Cash for Clunkers program undoubtedly created jobs, put people back to work, and kept the automobile industry alive. It has also reduced harmful emissions from clunkers into our air which helps our environment. Unfortunately, this pretty picture can be destroyed by taking a look at the most important group of businesses in America that drive our economy: small businesses.Independent Dealerships [Read Full Article]
