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Clunker Program Good for New Hampshire
By Mark Bevis on Thursday, August 27, 2009.
Auto Dealers may be waiting for government rebates, but when they come in it appears the Cash for Clunkers Program has been good for New Hampshire.
NHPR's Mark Bevis has more.
The Federal Commerce Department has released state by state numbers for the Clunker rebates.
And it turns out New Hampshire will be getting about 23 million dollars, representing over 5000 deals.
If you take that 23 million and divide by the number of state residents, as New York Times chief Financial Correspondent Floyd Norris has done, you find out New Hampshire stands to receive about $17.50 per person.
That puts the state at number 1.
Vermont comes in at #2, getting nearly $16 per capita.
Maine has landed 10th and Massachusetts 24th.
It’s not clear why New Hampshire came out on top.
But as one reader commented on Norris’ Blog,Yankees use it up, wear it out, make it do, or do without….unless someone offers us a deal.
For NHPR News I’m Mark Bevis.
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Maybe I don't quite understand the economics of this, but from what I understand:
* Cash for Clunkers was part of the economic stimulus package.
* The program running out of money so fast was by many outlets considered as evidence of the program's success.
* NH had the highest per capita gain from this program, and it wasn't even $20 per person?
Is that really much of a success?