Cash for clunkers suspended

The AP is reporting that congressional officials say the government plans to suspend the “cash for clunkers” program amid concerns it could quickly use up the $1 billion in rebates for new car purchases.

The program offered owners of old cars and trucks $3,500 or $4,500 toward a new and more fuel-efficient vehicle.

As of yesterday, 22,782 vehicles had been purchased through the program and almost $96 million had been spent.