Every article says it was bad, but why? And was there any good to it?
In: Economics
It wasn’t. Idiots like to try to point to an event in the past to explain everything bad in the present when they can’t realistically run a simulation without that event, and all they’re doing is blindly assuming that only good would have continued forward. Morons like to believe that every car crushed would’ve still been on the road now 15 years later, when the cars traded in were only good for 7-8 years for the most part and were already nearing their end of life.
Cash for Clunkers incentivized new car purchases, putting more consumer spending into the economy. This kept the economy going. A major recession causing new car production to plummet would not have resulted in more used cars available to purchase right now.
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