Cash for clunkers brought real cash for consumers

Neither, both were a collosal waste of future taxpayer taxes. What about the enviroment? Where are these destroyed cars going. By law, they cannot be resold or recycled for parts. And now prople who probably had paid for cars are now taking out loans for new cars.

Try as they may, the government will not be able to reinflate the consumer bubble. Both events are very bad public policy. Good politics, but bad public policy.

Our new moto: What can my government do for me (and have someone else pay for it)?

Meanwhile, the Commerce Department said Tuesday that consumer spending rose 0.4% in June. But adjusted for inflation, it fell 0.1%. Personal-income data also fell 1.3% in June, the largest single-month drop in four years.

The data indicated that consumers concluded the first half under intense pressure from a weak labor market. That suggests the anticipated GDP growth won't be enough to substantially bring down the unemployment rate. wsj.com

It's all about jobs.