Goodreads Bookshelf
Economic News
At the end of last week, "good" news came in on the economic front, that unemployment is actually down by a tenth of a percent. Not that it isn't better than, say, unemployment continuing to increase, but it's not much to get excited about just yet. The Obama administration will claim it as a sign that the stimulus is starting to work, and maybe it even is, but it's tough to say at this point.
The "cash for clunkers" program got additional funding, but I'm not a big fan of the popular program. First, in its administration, it sounds like it could have stood to be more stringent, since (as I understand it) trading in a 16-mpg vehicle for an 18-mpg vehicle counts under the program. The savings in terms of emissions and fuel usage don't seem to be significant enough to justify what's essentially additional stimulus money for the auto companies, albeit money that goes to the dealers rather than the producers (and, for that matter, to the average person too). If we're going to help out automakers, I guess I'd rather see it in this sort of trickle-up fashion. At the same time, I'd be happier to see more money going to public transit, more money going to alternative energies that could help us move away from fossil fuels instead of working hard to keep on going with business as usual (though slightly more efficiently).
The other issue I have with this program is that part of the problem with our economy is that from the common people up to the government, we've got some serious debt going on, and chances are that even with the money the government put down, most people taking advantage of this program are probably thereby taking on additional debt. Ultimately, it seems like it's good for the car dealers, good for the car companies, and a wash at best for regular people.