A study by the liberal Brookings Institution reveals that the "Cash for Clunkers" program that gave a big subsidy to car buyers if they traded in their gas guzzler for a newer model accomplished some of its goals but in a ruinously expensive manner. How expensive? Politico: As a job creator, the Obama administration's Cash for Clunkers program was a sputtering old jalopy that deserves to stay in the scrap yard, according to a study released Wednesday. The program, which fueled a car-buying spree in the summer of 2009, cost $1.4 million for every job it created and did little to reduce carbon emissions, a Brookings Institution report said. In comparison, research has found one job is created for every additional $95,000 spent on unemployment benefits. "In the event of a future economic recession, we would not recommend repeating the CARS program," Brookings researchers Ted Gayer and Emily Parker wrote, using the acronym for the Car Allowance Rebate System. "While the...(Read Full Post)