With an additional $2 billion in funding, the “Cash for Clunkers” program has a new lease on life until Labor Day. But it’s not clear if Clunkers, the sequel, will show the same robust results that the program did in its first week, quickly running through the $1 billion that was supposed to last until November.

Again, this was a great idea for the short term, but who knows what long-term effects it will have?