President Clinton: ‘Cash-for-clunkers’ has ‘worked like a dream.’

“This cash-for-clunkers deal has worked better than everybody dreamed it would,” President Bill Clinton said today at the National Clean Energy Summit in Las Vegas, sponsored by the Center for American Progress Action Fund. Clinton argued that the theory behind cash-for-clunkers should now be applied to electric cars as well. He added:

This thing has worked like a dream, maybe because we didn’t raise the mileage standards for what you have to buy. But the point is — it proves that the American people will bite if it makes good economic sense.

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Despite the overwhelming success of the program, cash-for-clunkers has been panned by the media and conservatives who want to argue that the success of the effort proves government “can’t run” programs.