Too many clunkers, too little cash

By doris | Published: July 31, 2009

Full Story at money.cnn.com

NEW YORK (CNNMoney.com) — This much seems certain about the Cash for Clunkers program: Consumers are happy to take government rebates to buy new cars.

The fate of the $1 billion trade-in program was up in the air late Thursday over concerns that it may have already burned through its funds less than a week after it was launched.

Congressional sources said earlier in the day that the program would be suspended.

A White House official and a source at the Department of Transportation later said the program would not be suspended. The DOT official said the administration would try to work with Congress to find more funds to keep it going.

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