Skip to comments.Biden: We 'Misread the Economy'
Posted on 07/05/2009 11:04:22 AM PDT by Danae
Big admission from Vice President Joe Biden today.
"The truth is, we and everyone else misread the economy," Biden told me during our exclusive "This Week" interview in Iraq.
Biden acknowledged administration officials were too optimistic earlier this year when they predicted the unemployment rate would peak at 8 percent as part of their effort to sell the stimulus package. The national unemployment rate has ballooned to 9.5 percent in June -- the worst in 26 years.
(Excerpt) Read more at blogs.abcnews.com ...
No Joe, Democrats did not ‘Misread the Economy’, they gave us this economy.
The Democrats so totally misread the economy that they made sure that everything they did would make it worse.
Millions of people have become convinced that the Democrats are the equivalent of an invading army intent on destroying the nation.
“We misread how bad the economy was, but we are now only about 120 days into the recovery package,” he said. “The truth of the matter was, no one anticipated, no one expected that that recovery package would in fact be in a position at this point of having to distribute the bulk of money.”
BS - Joe We conservatives TOLD you it would happen, the only way you could pay for your orgy of pork barrel spending was to print money like there was no tomorrow. Any you idiots wonder WHY things are getting worse? Because you morons did exactly the wrong things at the wrong time.
The rats misread the American people and next election they will find out how much.
They’re not going to be able to blame Bush much longer. Especially if Obama keeps pissing on his biggest fan base, the MSM. They might accidentially start letting little slivers of the truth out occasionally.
Got that half right.
You pegged it! As long as they have a buzzword, they think they have a policy.
Not surprising when you know absolutely NOTHING about economics or history. Marxism has failed EVERYWHERE it has been tried.
They didn’t misread, they misapplied a flawed economic theory that even the originator didn’t think would work.
Translation: "We just sent the economy into a dive to help us get the White House and the Congress. We also wanted to take over "big business" for our unions. How were we supposed to know we weren't going to be able to stop the downward spiral? We're just a bunch of amateurs!"
It is always about crushing the American Spirit and creating a socialist soft totalitarian permanent democrat party controlled federal government.
“Millions of people have become convinced that the Democrats are the equivalent of an invading army intent on destroying the nation.”
You got that right!
***So the second question becomes, did the economic package we put in place, including the Recovery Act, is it the right package given the circumstances we’re in? And we believe it is the right package given the circumstances we’re in***
People are blatantly ignorant of economics. You CANNOT consume your way to prosperity.
I think we can safely predict their next propaganda move.
They “misread the economy” because Bush can’t spell.
They may have been right if they were able to refrain from a uncontrolled government spending accompanied by new taxes and regulations
Actually, all we know is that he can misread.
Tell us, Joe, are you and the President lying about what happened, or are you just incompetent? I'm willing to give you the benefit of the doubt and say you're not doing it on purpose, so it's either that you were misleading the American people back in December, January, and February, or you're just incompetent. Your choice!
Does anyone have the Joe campaign quote to the effect that You will think we are completely wrong and if you wait you will see that we got it right. OSSTTE
And the threat of high-cost, scarce energy, nationalized healthcare, expiration of Bush tax cuts, and the prospect of enormous tax hikes at almost every state and federal level is going to keep the economy in the toilet for a long, long time.
Yup, if they had cut taxes instead of passing their Porkulus bill, they would be in better shape.
No D.O. can cover the stench of my B.O.!
Right you are. And Obama misread nothing.
He wants the destroy this country, and bring it down into a "turd world" banana republic.
Same thing I was thinking. We know he has to plagiarize to write, but damn, little Joey can read.
The economy didn’t start to tank untill the JACKASS party took the majority after the 2006 election. They’ve done their damage to purposely create Joe Biden’s “manufactured crisis” and continue to make it worse as to tear down our system of government as to not allow the “crisis go to waste” (as quoted from Rahmbellina) and replace with their chosen socialism.
How much more “hope and change” can we stand from the “most (un)ethical administration in history”.
If anyone thinks these globalist a-holes were taken by surprise, I have some Lehman Bros stock for sale.
This is going precisely according to plan. They will take every crisis opportunity to expand their violations of the Constitution and cement their hold on us.
Democrats caused the Great Depression.
They have caused the Depression that is now inevitable.
Yet they still attack the free market with a straight face.
And North Korea.
And getting into this much debt.
And Frannie and Freddie.
Exactly. Bush set the table, now Barry is shoveling the BS down our throats.
“Biden: We ‘Misread the Economy’”
Good, then you need to be fired just like your Administration TOOK OVER GM AND FIRED THEIR CEO for misreading his company’s finances.
When Bush entered office the economy was slowing and he and his administration knew exactly what to do to pull it out and they did. The donkeys are idiots...
“The truth is, we and everyone else misread the economy,”
You wouldn’t know the truth if it bit you on the butt.
Right now, you are misreading the ‘will’ and ‘intentions’ of the patriots of our country... We ‘intend’ to take our country back and we ‘will’ do that by whatever means necessary.
Did anyone ask how many ways their stimulus, budgets, bills have hurt the economy?
One of the best comments on that blog observes that when Bush ‘misread’ intelligence on Iraq, it turned quickly into ‘Bush lied.’ So I think it is now safe to begin to repeat the same talking point about this bunch of idiots.
OBAMA LIED ABOUT EVERYTHING...
>Millions of people have become convinced that the Democrats are the equivalent of an invading army intent on destroying the nation.<
Like the rats care — they know that they have the country by the b*lls and will continue squeezing them.
They’re not misreading anything, they are misleading the country as part of their intentionional scheme to destroy this nation. People had better remember this time in our history and realize what the democrats are really all about.
>They might accidentially start letting little slivers of the truth out occasionally.<
The MSM will just paraphrase Pilate — Truth? What is truth?
Since Biden appears to have nailed the problem with the 0bama administration I now have an important question for him (actually many of the same design)...Have you misread the Iran threat like you misread the Economy, Have you misread the Terrorist threat, the issues of the American Medical Industry, the Banking problems ALL like you have misread the Economy?
Basically Biden admits they have been wrong from the start.
You actually need to fix it thusly:
“The truth is, we have no idea what the hell we are doing.”