A recent study finds that Cash for Clunkers delivered a double-whammy to the economy, but not in a good way. Not only did it cost the auto industry $3 billion it cost taxpayers $3 billion. This is how Democrats “help” the economy.
The government’s “Cash for Clunkers” program – pitched as a plan to jump-start U.S. auto sales and clean up the environment by getting gas-guzzling vehicles off the road — may have been a clunker itself, according to a new economic study.
Researchers at Texas A&M, in a recently released report, measured the impact of Cash for Clunkers on sales and found the program actually decreased industry revenue by $3 billion over a nine-to-11-month period. Meanwhile, the “stimulus” also cost taxpayers $3 billion. (Read More)