March 2, 2024



What “Cash for Clunkers” Was Really All About

FAIRFIELD, CA - AUGUST 26: Cars traded in for the Cash For Clunkers program sit in a storage lot August 26, 2009 in Fairfield, California. The US Transportation Department said the Cash for Clunkers program yielded just under 700,000 new car sales during the month-long program which ended Tuesday. 690,114 vouchers totaling $2.88 billion were submitted by new car dealers. (Photo by Justin Sullivan/Getty Images)

Eric Peters autos

By Eric Peters

November 26, 2023

You may recall the Obama-era “Cash for Clunkers” business. It was a very dirty business and a key element of Obama’s declared intention to fundamentally transform the United States – though to this day many people do not understand just how key it has proved to be.

The plan was sold to the public as a means of “stimulating” the then-flatlined American car industry, which was almost literally (and in GM’s case, actually) bankrupt. The idea was to get people to buy new cars by paying them to throw away their old cars.

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