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Monday, October 5, 2009

Cash for Clunkers Redux

In July, we pointed out that all the Cash for Clunkers program would do is shift automobile sales forward. Now the evidence is in. U.S. auto sales for September were 745,997, down 41% from August and down 23% compared to September 2008. Are there no economists in Washington who have heard of, and understood, Price Elasticity??

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