Hot Air » Blog Archive » Cash for clunkers runs out of money … after one week; Update: Feds scramble to save program
By: Pam On: Jul/31/09 - 2 Comments
Unlike pretty much every other Hopenchange economic policy, not only did this one work, it worked better than expected. And yet, I can’t help thinking there’s a lesson in the fact that a centrally planned program budgeted to run through the end of October went bust in, er, seven days. That’s some miscalculation — not unlike the miscalculation that promised unemployment no higher than eight percent once we pinched that $787 billion loaf known as the stimulus. And naturally, the program came buried in so much bureaucracy and paperwork that some dealers gave up on it despite the amazing business it drummed up.
Ah well. I’m sure none of that will happen with national health care.
July 31, 2009 - 07:01 AM on July 31st, 2009
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August 6, 2009 - 08:18 PM on August 6th, 2009
As with most government programs, the success of the “cash for clunkers” program is not measured in how well the consequences of the program align with the stated goals of its advocates. Nor is it measured by any economic impacts the consequences might cause. Instead, just like the example of the public library in George Dance’s recent article about Booze and books, the success is measured by participation or usage, not by any measure of the value provides or harm it does to our economy. The trick is to define the program specifically so that it has a known demand so the usage is high. Media spin and politics will make sure the right people hear the program was successful and beneficial. I heard a bit on NPR just today about the downstream benefits that recycling all these old cars has. Ridiculous of course, but the perception amongst the voters is far more important than the actual results and consequences. Certainly there will be follow-on programs, cash for major appliances, cash for tools, etc.