Cash For Clunkers Was a Complete and Utter Failure

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Just read an article that Obama's Cash For Clunkers thing put several hundred small dealerships out of business

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You know with football starting I really thought these guys would return to the SEC rant.

put a real hurtin' on our county demo-derby

It certainly did damage. Rather than forcing the destruction of the "clunkers," they should have just offered up a tax credit for certain fuel reducing cars. It basically was a real world example of the broken window fallacy taught in most 1000 level economic classes.

Borrowed from your sig:

TL;DR

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I read it in a fricking newspaper on a flight from Miami so go frick YOURSELF.

Sorry that you are still sucking milk from your mom's tit but there used to be a thing called a Newspaper that was actually a piece of real paper that you had to hold to read

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Sorry that you are still sucking milk from your mom's tit but there used to be a thing called a Newspaper that was actually a piece of real paper that you had to hold to read

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I'm here to bail you out, OP.

The program was pure, unadulterated trash.

Keep in mind that these estimates don't include the actual costs of the vouchers + administering the program. No net benefit, even before you count the costs.

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Using a regression discontinuity design, we show the increase in sales during the two month program was completely offset during the following seven to nine months, consistent with previous research. However, we also find the program's fuel efficiency restrictions induced households to purchase more fuel efficient but less expensive vehicles, thereby reducing industry revenues by three billion dollars over the entire nine to eleven month period. This highlights the conflict between the stimulus and environmental objectives of the policy.

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LINK

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We find that the program induced the purchase of an additional 360,000 cars in July and August of 2009. However, almost all of the additional purchases under the program were pulled forward from the very near future; the effect of the program on auto purchases is almost completely reversed by as early as March 2010 – only seven months after the program ended. The effect of the program on auto purchases was significantly more short-lived than previously suggested. We also find no evidence of an effect on employment, house prices, or household default rates in cities with higher exposure to the program.

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LINK

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I found the above quote from the article to be very damning.