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.
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