The Cash for Clunkers/ CARS rebate program, which offers consumers up to US$4500 rebate on the purchase of a new car, is already running out of the $1B allocated to it. The program was to run until the end of Oct 2009, and some media outlets are reporting that it is being suspended. However, word from the White House is that the program is not being suspended, and more rebate cash will hopefully be allocated. House and Senate will be voting soon on adding as much as $2B to the pot.

The program is intended to boost the badly damaged auto industry, and might also spark U.S. economic recovery.