Update: Real cost of Cash for Clunkers Program

In an earlier post, I noted that I thought that the real cost of the cash for clunkers program went well beyond the $4500 rebate per car.  Edmunds.com just came out with an analysis that shows that the cost of the program, once purchases that would have occurred during that period without the rebate are taken into account, at $24,000 per car!  http://content.usatoday.com/communities/driveon/post/2009/10/620000657/1