Cars and Houses Brought Back the Economy
The economy is up 3.5% in the 3rd quarter, thanks in large part to government subsidies for car and home buying. Otherwise, the impact of the stimulus has been muted, says The Washington Times.
Sung Won Sohn, economics professor at California State University Channel Islands, says that these programs have brought the recession to an end.
"The "cash for clunkers" trade-in program for gas-guzzlers inspired a 22.3 percent surge in purchases of big-ticket goods - primarily autos - while the department said the ramping up of auto production to meet demand for new fuel-efficient cars accounted for 1.66 percentage points, or nearly half, of the growth registered during the July-September quarter."
Full Story:
Published on Friday, October 30, 2009 in
Topics
- America's Largest Suburb Flirts With Urbanization
- Gentrification, for Better and Worse
- Baltimore's New Bus System Comes With a Snazzy New Map
- The (Irrational) Criminalization of Walking
- The Scourge of Setbacks
- Ramps to Help Ducks in and out of the Capitol Reflecting Pool Make a Big Splash
- Seattle's New Seawall: An Experiment in Climate Adaptation and Habitat Restoration
- When You live at 78ºN, You Become an Expert in Everything
- Big, Expensive Idea: Bury Six Miles of Expressway Under Brooklyn
- Is Houston a City of the (Demographic) Future?
- Northeast is Next Market for Fuel Cell Vehicles
- Design Library: African-American Perspectives on Architecture
- Colorado Still Short Cash and Ideas to Fix its Roads
- Solving Homelessness: Title V's Shortcomings and Potential Explained
- Mapping Chicago's Zoning Code Changes
- YIMBYs Attacked from the (Far) Left
- Affordable Housing Lacking in Every State
- L.A. Metro Announces Big Bus System Redo
- 'Plansplaining' and its Discontents
- Trump's Tax Reform Proposal Would Have a Big Effect in the Housing Market
