Obama Signs Cash for Clunkers’ Bill

Posted August 7, 2009 at 10:25am

President Barack Obama on Friday signed the “cash for clunkers— bill, allowing funds for the program to continue flowing just as they were about to be depleted.White House officials earlier this week said money in the pipeline would last only through Friday. The House passed the measure last week before adjourning and the Senate approved it Thursday.“I want to thank the United States Senate for acting in a bipartisan way to use Recovery Act funds to extend the Cash for Clunkers’ program,— Obama said in a statement released Thursday night. “Now, more American consumers will have the chance to purchase newer, more fuel efficient cars and the American economy will continue to get a much-needed boost.— White House Press Secretary Robert Gibbs said Obama was pleased that the unemployment rate came in at a better-than-expected 9.4 percent, but he noted the president is on guard against future increases and still expects the rate to top 10 percent. Obama plans to talk about the economy early Friday afternoon at the White House.