With our government phasing out the "cash for clunkers" program, where government money subsidized trade-ins for new vehicle purchases, word comes today that a similar program is being developed for appliances. Autos and appliances are two cyclical, heavy-metal industries, and these programs fit into a counter-cyclical fiscal policy. But like other subsidies, these programs also entail a transfer of wealth from the general population to producers and consumers of the subsidized items. The public policy justification for these programs must deem it in the general interest to go ahead and incur those costs, for the good of us all.   More