|
Cash-for-clunkers program boosts U.S. economy
Cash-for-clunkers program boosts U.S. economy
Posted Monday, Aug 31, 2009, 12:02 pm in Employee News
For $3 billion, the 32-day cash-for-clunkers program is looking increasingly like an effective stimulus bargain, the Detroit Free Press reported.
The Commerce Department said Friday that consumer spending rose 0.2 percent in July, noting that purchases of new vehicles and auto parts, driven by the stimulus, “more than accounted for the increase,” the paper said. Given that the clunkers program launched July 24, the impact could be greater in August, the Free Press noted.
The program also boosted tax revenue, dealership advertising and put more income in the pockets of dealership employees, the paper said. A variety of related businesses—recyclers, dismantlers, tow truck operators and scrap metal dealers—also will be busier in the months ahead as they dispose of the trade-in clunkers, liquidating their usable parts, the story said. (Detroit Free Press)
__________________
Rick
Nitro Year: 2007 (1 of 113,000 sold)
Nitro Model: R/T 4X4 Stone White
CAT-BACK Exhaust, CAI, Projector Head Lamps
Fully-Equipped w/all factory options
|
Linear Mode
