If you can remember back to a time when I posted about Google’s 10^100 Contest, then you can see that I mentioned having put in a suggestion of my own. And even though you may think that I am lying, my submission was almost word for word what the “Cash for Clunkers” program has become.
The original description of my idea looked something like this:
“Set up a program, backed by the government or some independent investors, that uses a pool of money to offer car buying vouchers for people that trade in older cars for newer, more fuel efficient vehicles. This helps people in multiple ways. It can increase the number of cars that are sold, giving a much needed boost to the economy. And it can make the average fuel efficiency of cars in the country go up more than it would without this help.”
So, of course, when I saw the initial idea for Cash for Clunkers, I was very excited. I backed the program, thinking that it would definitely help do exactly what it was designed to do; spur the struggling auto industry, and get more fuel efficient vehicles on the road.
And now, less than a week after the program was launched, it appears that the program was so successful that it ran out of the appropriated money that was supposed to last until November 1st. For more information on exactly what the Cash for Clunkers program is, how you can take advantage, and how the government is adding more funds to help keep the program alive, check out this article from The Politico.