With nearly $1 billion worth of cash being handed out for hundreds of thousands of gas-guzzling "clunker" cars, the government's Car Allowance Rebate System (CARS) program has been such a success that it is looking to refuel. The funds that were scheduled to last until November are sputtering on empty...just days after the Cash for Clunkers program officially kicked off on Monday.
If you were thinking of doing your clunker trade-in this weekend, President Obama and the White House crew give you a green light to go ahead. However, beyond that, they are looking to Congress to infuse the program with another $2 billion in funding. To complicate things a bit, Congress will be out on summer recess after today, though Senate will stay in session through the end of next week.