Because the "cash for clunkers" ran out of money?
Nope. Because the cars people were buying with it were things like Hyundai. That's the only car mentioned of course. Doubtless some people bought American like they always do. But realistically, cheap foreign (read: Japanese or Korean) cars were the best deal. I have no illusions that this is good for automobile manufacturers, but probably not most traditionally understood to be American ones. And that will be the interesting point moving forward. I suspect we will see that Congressional members from places like Georgia will be for this as is in about a month and those Michigan and Ohio representatives will be saying that this was "too successful" and seek to add more provisions. If not, then perhaps there's some hope yet for globalization.
Free trade, Pareto improvements, and redistribution
51 minutes ago