Obama is now saying they will find ways to fund Cash for Clunkers beyond the amount that was already pledged and instantly eaten up by Americans...
Obama is now saying they will find ways to fund Cash for Clunkers beyond the amount that was already pledged and instantly eaten up by Americans hungry for fuel economy and free money. Bills have been introduced today to throw $2 billion more into the program. Dianne Feinstein wants to raise the fuel-economy rating your new car must reach (right now, it must be five mpg higher, she wants to raise it to seven) and to include vouchers for lower-income buyers to buy used fuel-efficient cars.Not only have a quarter of a million cars been traded in (which means 250,000 new cars sold, which is something our economy really needs), but Massachusetts Rep. Ed Markey reports that those 250,000 new cars will result a 69 percent improvement in fuel efficiency per car. For those questioning how much of a difference that makes, remember this: An increase in fuel efficiency is far more valuable the lower the fuel efficiency is. Increasing miles per gallon from, for example, 1o to 20 saves more gas than increasing it from 25 to 50 (read more about that here).Want more Cash for Clunkers? Call your representatives in Congress today. Here is a list of their offices (Senate; House), and if you don't know who you congresspeople are, find out here (you may need your zip +4, which you can get here).Photo by Vyto Starinskas/Associated Press