Posted on 08/23/2014 5:52:45 AM PDT by SoFloFreeper
We've written repeatedly about the many flaws of the 2009 "Cash for Clunkers" program. It made used cars more expensive, wasted resources and merely shifted people's car-buying plans forward a few months.
Now, a new study by three Texas A&M University economists says the misguided stimulus policy wasn't even good for the auto industry. Mark Hoekstra, Steven L. Puller and Jeremy West find that the program's fuel-efficiency constraints induced people to purchase smaller, less expensive cars than they would otherwise have bought.
(Excerpt) Read more at stltoday.com ...
Of course it was stupid to do...that is why Team Obama did it.
One of the many HE has taken over since he has been in office
Another example of a “Faculty Lounge” policy.
...and to top it off many “classic” cars were demolished. Given that LIBs want to transform America into a marxist sh**hole, they have been successful with this degenerate program.
Only a complete fool, idiot or devil could possibly think that destroying value leads to economic growth and prosperity. Obviously Obama and the Dems easily fit one or more of those.
...some Peter Schiff sarcasm.
It was really about the environmental movement.
Getting old cars off the road was a cause celeb in the environmental movement for decades. And the cash for clunkers program was one of their favorite proposals amongst the academics in the movement.
One of the others was that cars would have a legally enforceable life span for cars. Another that all cars produced before 1975 would have to be taken off the road or sold to the government for scrapping.
I think the car industry problems was just an excuse. After all the program would (supposedly) benefit foreign car companies as much or more than domestic.
The environmental movement wants old cars off the road and Obama found a politically convent way to achieve that goal
Ditto. I’ve gotta keep older models running now. 1994,1997 and 2003.
The goose steppers don’t care, they will keep on destroying this country and when they are done with that they will come after anybody that disaproves of their actions. just ask all of those that lived behind the iron curtain. So much like the 20’ and 30’s in Germany and just like those 70 nice years under the Soviet Union. Putin is also doing a good job.
It didn’t just take resources from taxpayers and give them to people who wanted to buy new cars. It was far worse and genuinely evil. Valuable resources, inexpensive older vehicles with many good miles left, were wantonly destroyed and poorer people, especially young people who wold have been buying their first cars, were deprived of the opportunity to do so for no legitimate reason. It was a pure evil, wanton destruction of valuable resources for no legitimate reason.
Wish there was a like button.
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