Clunker Hangover- Auto sales lowest since 1981

Well duh- the "clunker" bill caused people who were thinking about buying a car anyways to buy one sooner. Guess what?  Paying people to destroy things is not the path to prosperity. Slow consumer spending is the symptom, not the cause.

"Edmunds.com reports that “September’s light-vehicle sales rate will fall to 8.8 million units . . . the lowest rate in nearly 28 years, tying the worst demand on record. After the cash-for-clunkers program boosted August sales to their first year-over-year increase since October 2007, demand has plunged. In at least the last 33 years, the U.S. seasonally adjusted annual rate has only dropped as low as 8.8 million units once — in December 1981 — with records stretching back to January 1976.”

http://planetgore.nationalreview.com/post/?q=ZDYwYjIwMDMwMjFmY2YzMWVjOTdlYTI4OGI0YjhiNjA=