In the tale of Aladdin, the young hero is tempted by an enticing pitch to swap his old, but magical, lamp for a new one.
The US government may soon be offering Americans another swap they may find hard to resist: cash toward a new car or truck if they’ll promise to send their old vehicle to be crushed into scrap metal. It’s being pitched as a win for both the economy and the environment.
In a March 30 speech, President Obama endorsed using part of the $787 billion economic stimulus package to fund what’s being called a “cash for clunkers” plan. Several such bills now are being considered by the US Congress.