Cash For Clunkers

The British government is considering giving consumers a cash bonus to trade in their old cars and buy new ones in a bid to help the country's ailing automotive industry. A similar plan in Germany has given auto sales there a big boost. One industry group says new car registrations in March reached their highest level since 1992, thanks to the bonus. France has introduced a similar incentive, and the U.S. Congress is developing its own version of the plan, dubbed "cash for clunkers." Proponents say the bonuses give consumers a chance to swap their old autos for newer and often more fuel-efficient ones, while stimulating the struggling international auto industry. Critics say the scheme merely delays the pain while draining government coffers.