Bloomberg writes on clunkers:
The U.S. government’s $1 billion “cash for clunkers” program to spur new car sales ran through the money six days after it began, Senator Debbie Stabenow said.
Officials at the White House and the Transportation Department declined to comment on the program’s status. A White House official, who asked not to be identified because no announcement had been made, said the administration was assessing the situation facing what had turned out to be an overwhelmingly popular program.
All valid transactions that have taken place so far under the clunkers program will be honored, the official said.
The Transportation Department had said this week that the money wasn’t running out.
See also Cash for clunkers
***On the economy generally, note the following from Robert Reich's blog at blogspot:
I don't want to minimize the bad consequences of this lousy economy. Too many Americans can't even afford a road trip, let alone a fancier summer vacation. But in many ways, the economy is causing us to slow down, and that's not all bad. There are pleasures to be had, for example, in taking a few days with your kid and maybe a big dog, and doing nothing all that special except listening to music and talking and looking at the country.