A study released on Wednesday found that President Obama's Cash for Clunkers rebate system for old cars was an ineffective stimulus program.Study: 'Cash for Clunkers' clunked | TheHill
The study, conducted by the Brookings Institution, found that the $2.85 billion Cash for Clunkers program only created 0.7 jobs for each million dollars the federal government spent.
The ratio translated to a rate of $1.4 million for each job, which the authors of the study said was a very expensive stimulus.
Thursday, October 31, 2013
Study: 'Cash for Clunkers' another Obama failure
From The Hill newspaper:
Posted by TONY PHYRILLAS at 4:28 PM