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Biden: We 'Misread the Economy'
ABC News blogs ^ | 7-5-2009 | George Stephanopoulos

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 ...


TOPICS:
KEYWORDS: bho44; bhoeconomy; biden; blunders; disaster; economy; noshitsherlock; obama; vpbiden
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No Joe, DEMOCRATS misread the economy. You guys OWN this one. You have both houses in congress and the White House, this is the OBAMA Economy.
1 posted on 07/05/2009 11:04:22 AM PDT by Danae
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To: Danae

No Joe, Democrats did not ‘Misread the Economy’, they gave us this economy.


2 posted on 07/05/2009 11:05:41 AM PDT by Dustbunny ("Government does not solve problems; it subsidizes them. " Ronald Reagan)
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To: Danae
This is the OBAMA DEPRESSION.

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.

3 posted on 07/05/2009 11:06:27 AM PDT by muawiyah
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To: Danae

geniuses...


4 posted on 07/05/2009 11:06:36 AM PDT by clintonh8r (General James Mattoon Scott: Where are you now that we need you?!)
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To: Danae

“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.


5 posted on 07/05/2009 11:06:52 AM PDT by Danae (Amerikan Unity My Ass)
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To: Danae

The rats misread the American people and next election they will find out how much.


6 posted on 07/05/2009 11:07:03 AM PDT by mountainlion (concerned conservative.)
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To: Danae

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.


7 posted on 07/05/2009 11:07:30 AM PDT by ozzymandus
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To: Danae
"Misread" means never having to say you're sorry. They have worn out "inherited" so they needed a new buzz word.
8 posted on 07/05/2009 11:08:03 AM PDT by KarlInOhio (Fannie Mae, Freddie Mac, AIG, Chrysler and GM are what Marx meant by the means of production.)
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To: Danae
"The truth is, we and everyone else misread the economy,"

Got that half right.

9 posted on 07/05/2009 11:08:28 AM PDT by bill1952 (Choice is an illusion created between those with power - and those without)
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To: Danae
The big news here is that Joe Biden can read.
10 posted on 07/05/2009 11:09:17 AM PDT by hflynn (The One is really Number Two)
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To: KarlInOhio

You pegged it! As long as they have a buzzword, they think they have a policy.


11 posted on 07/05/2009 11:10:12 AM PDT by basil ( It's time to eliminate all "Gun Free Zones")
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To: Danae

Not surprising when you know absolutely NOTHING about economics or history. Marxism has failed EVERYWHERE it has been tried.


12 posted on 07/05/2009 11:10:16 AM PDT by Judges Gone Wild (Who is this uncircumcised, to oppose the armies of The Living God?)
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To: Danae
Biden: We 'Misread Killed the Economy'
13 posted on 07/05/2009 11:10:30 AM PDT by bmwcyle (Obama is an illegal alien)
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To: KarlInOhio

They didn’t misread, they misapplied a flawed economic theory that even the originator didn’t think would work.


14 posted on 07/05/2009 11:10:30 AM PDT by pacpam (action=consequence and applies in all cases - friend of victory)
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To: Danae
Biden: We 'Misread the Economy'

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!"

15 posted on 07/05/2009 11:10:33 AM PDT by FlingWingFlyer (Hey America! How's that "hope and change" thing working out?)
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To: Danae
Obama read the economy PERFECTLY. It was always his carefully planned intention to destroy the US economy.

It is always about crushing the American Spirit and creating a socialist soft totalitarian permanent democrat party controlled federal government.


16 posted on 07/05/2009 11:10:54 AM PDT by FormerACLUmember
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To: muawiyah

“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!


17 posted on 07/05/2009 11:11:03 AM PDT by mkcc30 ("Millions for defense, but not one cent for tribute.")
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To: Danae

ROTFLOL


18 posted on 07/05/2009 11:11:39 AM PDT by freekitty (Give me back my conservative vote.)
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To: cleveland gop

Ping.


19 posted on 07/05/2009 11:11:55 AM PDT by ChicagoConservative27 (Obozo the clown)
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To: Danae

***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.


20 posted on 07/05/2009 11:12:45 AM PDT by djsherin (Government is essentially the negation of liberty.)
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To: Danae

I think we can safely predict their next propaganda move.

They “misread the economy” because Bush can’t spell.


21 posted on 07/05/2009 11:12:47 AM PDT by Cicero (Marcus Tullius)
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To: Danae
they predicted the unemployment rate would peak at 8 percent

They may have been right if they were able to refrain from a uncontrolled government spending accompanied by new taxes and regulations

22 posted on 07/05/2009 11:13:04 AM PDT by paul51 (11 September 2001 - Never forget)
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To: hflynn
The big news here is that Joe Biden can read.

Actually, all we know is that he can misread.

23 posted on 07/05/2009 11:14:12 AM PDT by TheWasteLand
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To: Danae
Hey Joe, your own President was talking about shovel-ready programs before he was even President. In fact, we've seen most of that stimulus money just sit, doing nothing. Your promise of holding unemployment to 8% if the plan was passed was false.

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!

24 posted on 07/05/2009 11:17:39 AM PDT by PugetSoundSoldier (Indignation over the sting of truth is the defense of the indefensible)
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To: Danae

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


25 posted on 07/05/2009 11:18:58 AM PDT by OldEagle
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To: djsherin

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.


26 posted on 07/05/2009 11:19:16 AM PDT by ProtectOurFreedom
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To: Danae

Yup, if they had cut taxes instead of passing their Porkulus bill, they would be in better shape.


27 posted on 07/05/2009 11:19:26 AM PDT by expatpat
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To: Danae
Next weeks crisis.

SSDD



No D.O. can cover the stench of my B.O.!

Oh Yeah

Thank You Satan 1:50

28 posted on 07/05/2009 11:19:53 AM PDT by rawcatslyentist (<P>Oh Yeah<P><a href="http://www.youtube.com/watch?v=ajsov1M4h50"> Thank You Satan 1:50</a>)
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To: muawiyah
This is the OBAMA DEPRESSION.

Right you are. And Obama misread nothing.

He wants the destroy this country, and bring it down into a "turd world" banana republic.


29 posted on 07/05/2009 11:22:21 AM PDT by FormerACLUmember
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To: hflynn

Same thing I was thinking. We know he has to plagiarize to write, but damn, little Joey can read.


30 posted on 07/05/2009 11:22:29 AM PDT by ameribbean expat
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To: rawcatslyentist
Funniest thing I have seen in ages!


31 posted on 07/05/2009 11:24:39 AM PDT by FormerACLUmember
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To: Danae

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”.


32 posted on 07/05/2009 11:25:39 AM PDT by RasterMaster (DUmocrats - the party of slavery, sedition, subversion, socialism & surrender)
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To: Danae

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.


33 posted on 07/05/2009 11:27:32 AM PDT by ovrtaxt (Truly Constitutional money isn't just backed by gold and silver- it IS gold and silver.)
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To: muawiyah

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.


34 posted on 07/05/2009 11:28:14 AM PDT by Ghost of Philip Marlowe (The most dangerous fascists are those with a warm smile and soothing voice.)
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To: Danae
This is 100% hussein and the evilcrat's economy... you wanted it... you warned that your way was the only way to save us... you sold it like the snake-oil salesmen that you are... your actions have made things worse to the tenth power... so you and your party eat your sh!t pie joe!

LLS

35 posted on 07/05/2009 11:28:32 AM PDT by LibLieSlayer (hussein will NEVER be my President... NEVER!!!)
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To: Danae
They're "misreading"...

health care.

And Iran.

And North Korea.

And getting into this much debt.

And Frannie and Freddie.

And...

36 posted on 07/05/2009 11:28:48 AM PDT by GOPJ (Raped five year olds can get press at the Washington Post -if we can raise the money to buy access.)
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To: Danae

Hey Joe:

You won!


37 posted on 07/05/2009 11:29:01 AM PDT by Anitius Severinus Boethius
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To: FormerACLUmember

Exactly. Bush set the table, now Barry is shoveling the BS down our throats.


38 posted on 07/05/2009 11:29:10 AM PDT by ovrtaxt (Truly Constitutional money isn't just backed by gold and silver- it IS gold and silver.)
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To: Danae

“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.


39 posted on 07/05/2009 11:32:26 AM PDT by autumnraine (Freedom's just another word for nothing left to lose- Kris Kristoferrson)
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To: Danae

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...


40 posted on 07/05/2009 11:38:00 AM PDT by shield (A wise man's heart is at his RIGHT hand;but a fool's heart at his LEFT. Ecc 10:2)
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To: Danae

“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.


41 posted on 07/05/2009 11:41:05 AM PDT by Gator113 (I live in "one of the largest Muslim countries in the world." Imam Obama told me so.)
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To: Danae

Did anyone ask how many ways their stimulus, budgets, bills have hurt the economy?


42 posted on 07/05/2009 11:42:37 AM PDT by libbylu ( Palin begins from Wasilla not only a campaign, an Iditarod of a crusade)
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To: Danae

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...


43 posted on 07/05/2009 11:43:19 AM PDT by erkyl (We hang the petty thieves and appoint the great ones to public office --Aesop (~550 BC))
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To: Danae
He's full of BS as usual.

If you accept that these Demtwerps are intentionally doing what they are doing to our society, then you understand this is just more manifestation of confusion per the Alinsky Rules.
44 posted on 07/05/2009 11:43:54 AM PDT by Canedawg (FUBO)
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To: muawiyah

>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.


45 posted on 07/05/2009 11:45:12 AM PDT by 353FMG (Death is Life without Freedom.)
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To: GOPJ

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.


46 posted on 07/05/2009 11:53:18 AM PDT by 353FMG (Death is Life without Freedom.)
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To: ozzymandus

>They might accidentially start letting little slivers of the truth out occasionally.<

.
The MSM will just paraphrase Pilate — Truth? What is truth?


47 posted on 07/05/2009 11:56:13 AM PDT by 353FMG (Death is Life without Freedom.)
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To: Danae

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.


48 posted on 07/05/2009 12:02:55 PM PDT by R0CK3T
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To: hflynn
TAKE
49 posted on 07/05/2009 12:04:06 PM PDT by odin2008 (Everything in the universe is subject to change.)
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To: bill1952

You actually need to fix it thusly:

“The truth is, we have no idea what the hell we are doing.”


50 posted on 07/05/2009 12:17:46 PM PDT by bolobaby
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