House approves $2B more for 'cash for clunkers'

The House has voted to rush an additional $2 billion into the popular but financially strapped "cash for clunkers" car purchase program. The bill was approved on a vote of 316-109. House members acted within hours of learning from Transportation Secretary Ray LaHood that the program was running out of money. Called the Car Allowance Rebate System, or CARS, the program is designed to help the economy and the environment by spurring new car sales. Car owners can receive federal subsidies of up to $4,500 for trading in their old cars for new ones that achieve significantly higher gas mileage. Read full story

Pray that President Obama be given Godly wisdom with regards to stimulating our economy.

Proverbs 22:26–27 "Do not be a man who strikes hands in pledge or puts up security for debts; if you lack the means to pay, your very bed will be snatched from under you. "


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