Cash for Clunkers Success

[Danzig]

Originally Posted by Riot

People going back to work in America is unworthy of a big hooray?

Except that far more than 1350 people are affected. The families who now can come off unemployment, food stamps, and Medicaid (that makes me happy, because I help pay for that), and keep their houses, buy groceries, and have a little disposable income to put back into their local economy and keep them solvent and maybe cause some new hires (like florists, the local pizza place, the dry cleaner); in addition to the couple of thousand jobs associated with ancillary industries that feed parts and materials into GM autos and depend upon that industry - steel, plastics, manufacturing parts industries - that will also have to rehire people and increase production to meet the needs of their client GM.

The recession isn't going to end magically all at once, with everyone going back to work all at once. Every step in the right direction is good.

millions out of work, and 1350 makes a difference? lol
unemployment is expected to remain above 10% for some time-and once cash for clunkers dries up, and demand dissolves, where will those 1350 be? so yeah, a hooray for them-but not a big one.

[Danzig]

and now i see cash for clunkers ends monday. probably because they're so far behind processing payments they don't know where they even stand at this point. i wonder how many dealers will end up holding the bag?

[Riot]

Originally Posted by Danzig

millions out of work, and 1350 makes a difference? lol
unemployment is expected to remain above 10% for some time-and once cash for clunkers dries up, and demand dissolves, where will those 1350 be? so yeah, a hooray for them-but not a big one.

Yes, unemployment is always the last thing to return to normal after any downturn, and it's expected to be high for two years. It will still be high when the economy is definitively growing.

And if those 1350 do end up laid off again sometime in the future, next year - at least you should be happy they were off the public dole for a year, and you and I weren't paying for their food and housing.