Remember Cash for Clunkers? It instantly took millions of useful working cars off the roads, gave subsidies to those who could purchase new cars, and got GM and others out of a hole. Creative economy by the Obamanation.
Yes, but new cars in those days didn’t run $45 to $100 thousand a pop.
I also question how much that program truly helped.
If you’re driving an old clunker, there’s a reason. You can’t afford a newer car.
Even with the payment for the clunker, how many of those folks could afford
another large loan payment?