July 10, 2017 UNEXPECTEDLY: Even By Keynes’ Standards, Cash For Clunkers Was A Complete Failure. Three economists (from MIT and Tex A&M) have crunched the numbers and discovered that Obama’s Cash-for-Clunkers scheme back in 2009 was a failure even by Keynesian standards. The abstract of the study tells you everything you need to know. The 2009 Cash for Clunkers program aimed to stimulate consumer spending in the new automobile industry, which was experiencing disproportionate reductions in dema...