A Stimulus That Could Save Money
By David Leonhardt in the New York Times, November 17 2009
The one highly visible success of the stimulus program has been the cash-for-clunkers program. It induced a boom in vehicle sales this summer that clearly would not have happened otherwise.
The rest of the stimulus has created a lot of jobs — 700,000 to 1.5 million, according to economists’ estimates. But it has done so in thousands of little ways: scattered construction projects, plugged-up school budgets and the like. Politically, these measures are not popular enough to create a groundswell for more of them.
And the economy still needs help. So White House officials are looking at creating a new version of cash for clunkers — this time for home weatherization.