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It's no secret that one of the biggest reasons the U.S. auto industry is teetering on collapse is that, quite simply, Americans have stopped buying cars. U.S. auto sales were down 37% in March from 2008, the latest in a nearly unbroken year-and-a-half streak of falling...

Author: /time Magazine | Title: Cash for Clunkers: A Green Deal to Help Detroit? | 4/15/2009 | See Source »

Now what if there were a way to tackle both these problems with one policy: to stimulate demand for American cars while making the U.S. auto fleet cleaner, greener and more efficient? It sounds like the kind of slick two-for-one pitch you might hear from a used-car...

Author: /time Magazine | Title: Cash for Clunkers: A Green Deal to Help Detroit? | 4/15/2009 | See Source »

In its broad outlines, the prospective policy - for which a number of proposals have been put forward in Congress - would offer Americans cash rebates of up to several thousand dollars if they traded in an old, inefficient car for a new, greener one. The ailing U.S. automakers would receive a...

Author: /time Magazine | Title: Cash for Clunkers: A Green Deal to Help Detroit? | 4/15/2009 | See Source »

But is cash-for-clunkers really two-for-one? That depends. There are currently two main bills in the House and Senate, which, according to greens, are not created equal. One, sponsored by Democratic Ohio Representative Betty Sutton, allows any car from model year 2000 or earlier to be traded...

Author: /time Magazine | Title: Cash for Clunkers: A Green Deal to Help Detroit? | 4/15/2009 | See Source »

Notwithstanding the fact that the "buy American" provision in Sutton's bill - which has the support of U.S. automakers and the United Auto Workers union - might violate free-trade agreements if the bill is ever passed, greens are more worried about its extremely low standards. Refusing to put a mileage...

Author: /time Magazine | Title: Cash for Clunkers: A Green Deal to Help Detroit? | 4/15/2009 | See Source »

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