Cash for Clunkers: The new Chairman of the President’s Council of Economic Advisers’ biggest claim to fame. President Obama just nominated Princeton economist Alan Krueger to be chairman of the president’s Council of Economic Advisers. Krueger’s greatest claim to fame was coming up with the ill-fated “Cash for Clunkers” program. The government bought thousands of cars, had no place to store them and no system in place to destroy them. So they rented abandoned Bush Stadium in Indianapolis and filled it with clunkers. Thousands and thousands of clunkers. As they say in the Obama administration, “It’s only money.”
