Can White Noise Machines Eliminate Traffic Noise?

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What if the apartment you just rented is perfect in every single way...except it's facing a busy street? A friend of ours is in this situation now: his new apartment is fantastic except for the noise early in the morning from commuters trying to hop on the 110.

So we're trying to come up with solutions that would at least dampen the sound that isn't too ugly (ie, foam egg cartons, cardboard, and tape). We've heard good things about this white noise machines, anyone use one of these? Have any other solutions to eliminate traffic noise?

The Sound Oasis white noise machine is available at SleepWellBaby.com

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