The President just announced that "they" didn't anticipate the reaction to the Cash for Clunkers program. Every sales person, every marketing manager, et al, could have told him what would happen when the price of something was reduced by $4,500. All of those economists and none of them have heard of price elasticity???
It seems clearer every day that nobody in the government has any notion of how the real world works. Is that because they have never had to experience the world you and I live in?