Edmunds.com Estimates Real Cash For Clunkers Cost, Gets White House Smackdown

Edmunds.com Estimates Real Cash For Clunkers Cost, Gets White House Smackdown

Edmunds.com crunched some numbers, and came to the conclusion that the federal Cash for Clunkers program was not a terribly effective use of taxpayer money. They argue that the bulk of rebates went to consumers who were going to buy cars anyway. The White House, however, begs to differ. So how did the Obama administration respond? With a snarky blog post.