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In yet another see-I-told-you-so moment, Obama's cash for clunkers program is now hurting lower income folks who wish to buy used cars by driving costs up an average of $1,800 above what used car prices were at this time last year. In August of 2009 I wrote that Obama's cash for clunkers program would "soon be materially hurting the lower middle classes" that aren't rich enough to buy new cars. With the rule that the cars turned in under the clunkers program had to be destroyed many thousands of good, serviceable used cars were summarily removed from the used market....

WASHINGTON — The Cash for Clunkers buzz is starting to wear off and it seems that some buyers are having serious second thoughts about getting on that government-funded bandwagon, according to a new survey. In the meantime, the U.S. Department of Transportation said that dealers by Tuesday's deadline had submitted a final total of 690,114 Cash for Clunkers deals for $2.88 billion in rebates. The total is just under the revised $3-billion budget for the four-week program. The new survey by CNW Purchase Path, of Bandon, Oregon, finds that of nearly 1,000 Cash for Clunkers participants, 17 percent say they...

Let’s begin with the easiest subject to understand – economics. Last week two important events happened. The Cash for Clunkers program shut down when it burned through money planned for four months, in four days. And based on a previously passed federal law, the minimum wage went up again. Now, the two programs are different in size. The minimum wage only increased by 70 cents an hour; whereas, the Clunker program is/was giving away up to $4,500 per transaction. So, the change was both larger and faster in the latter instance. I was on the road on family business and...

The first video here is already going viral, these are the rules for the Clunkers handed down by the Federal Government, this is absolute insanity....

Disabling the engine on cash for clunkers. Volvo is super tough!

This from CNN Money, Nada advises members to play it safe and not close any more deals on Cash for Clunkers until the program is clearer...