Cash for Clunkers Watch

It's old news now, but certainly interesting: Kars4Kids, the leading national car donation program, released the findings of its analysts in “Cash for Clunkers Watch,” a regular feature at its website that examined the effectiveness of Obama's Cash for Clunkers program.

“Since its inception, Kars4Kids carefully monitored the effectiveness of the Cash for Clunkers program and we’ve been shocked by its inefficiencies,” said Clifford Meth, spokesman for the organization. “We discovered that the federal government only reimbursed auto dealers for 2% of the claims they submitted through the program. Moreover, nearly 80% of the applications were rejected for a minor oversight.”

Kars4kids analysts believed that Cash for Clunkers was likely drawing money from other consumer purchases, and that it would likely undermine future car sales. In short, the increase in car sales from the program were likely borrowing sales from the future. To read more, click here.