The Boston Globe's Jeff Jacoby does a nice job of expanding on the points we made here August 23 in a post about the Cash for Clunkers program. Link via Professor Greg Mankiw's blog.
And more: National Public Radio has a piece on a study by Amir Sufi of the University of Chicago and Atif Mian of the University of California, Berkeley, that found, as NPR summarizes it, "The government's 'cash for clunkers' program boosted auto sales by 360,000 during the two months it was in place...But in the seven months that followed, sales were down by 360,000 compared with what they would have been without the program."
