Wednesday, August 05, 2009

Did I Forget To Mention It's A Clunker?

clipped from hotair.com

As for the stimulus effect, that’s mostly hype too:

An analysis by Macroeconomic Advisers forecasts that the program will affect only the timing of car sales, not total sales: “In particular, we expect that roughly half of the 250,000 in new sales would have occurred in the months following the conclusion of the program, and the other half would have occurred during the program period anyway. Therefore, we do not expect a boost to industry-wide production (or GDP) in response to this program.”…

Update: Here’s what we’re spending $3 billion to achieve.

“Cash for clunkers” could have the same effect on global warming pollution as shutting down the entire country — every automobile, every factory, every power plant — for an hour per year. That could rise to three hours if the program is extended by Congress and remains as popular as it is now.

Climate experts aren’t impressed.