Skip to comments.Stimulus has been 'an absolute success,' says VP Biden
Posted on 06/02/2010 2:25:14 PM PDT by Sub-Driver
Stimulus has been 'an absolute success,' says VP Biden By Michael O'Brien - 06/02/10 05:06 PM ET
The Obama administration's signature stimulus program has been an "absolute success" so far, Vice President Joe Biden said Wednesday.
Biden, who heads up the administration's effort to implement the $787 billion American Recovery and Reinvestment Act (ARRA), said the legislation will have saved or created between 3 and 3.5 million jobs before the end of 2010.
"An absolute success," Biden termed the stimulus during an interview on "Charlie Rose" to air Wednesday evening. "We will create over 3.5 million or save over 3.5 million jobs before this is over."
Republicans, meanwhile, have criticized the spending program to have done little to aid employment, pointing to administration projections that unemployment would never exceed 8 percent if the law were enacted.
The current unemployment rate stands at 9.5 percent through the end of April, with jobless figures for the month of May set to be unveiled on Friday. Economists are projecting a spike of 550,000 jobs created last month, though that figure may be padded by temporary workers hired by the government to carry out the Census.
Biden, who got in trouble this week for saying that unemployment might not creep down to 6 percent for years, said this evening that it's actually "unknowable" as to when enough jobs will be created to get unemployment to that level.
"The answer to that question is unknowable for three reasons," the vice president said, pointing to the debt crisis in Europe, difficulty in measuring consumer confidence, and whether or not the U.S. economy would catch some "good breaks."
Republicans still hammered away at the administration on Wednesday, with House Minority Leader John Boehner (R-Ohio) attacking President Barack Obama in the wake of a speech by the president in Pittsburgh that took aim at the GOP's economic policies.
"The president promised his stimulus plan would keep unemployment below eight percent and create jobs immediately, yet the unemployment rate remains unacceptably high at 9.9 percent, millions Americans have lost their jobs since the stimulus was enacted, and one out of 10 remain out of work," Boehner said.
We know Joe had brain surgery. Could it be that his human brain was replaced by the brain of a flat worm? Enquiring minds want to know.
It’s depressing, isn’t it? As I read this, I couldn’t help but just get so disgusted. A carnival barker is representing our great country...
Biden is the only person I know who actually thinks better after smoking his bong.
Biden is an absolute idiot
Damn good point. No need to emulate the terminally stupid!
That right there is one damn scary thought.... I am thinking of the spiders who are given things like Caffeine, LSD and Pot. Caffeine really seriously messes up the webs, Pot is actually better, the webs are at least sort of recognizable. So maybe pluggs went from caffeine to pot... Who knows, I think he was just born stupid.
Sounds like Joe’s hair plugs have short circuited.
Yup, Joe was the one who was touting the “Won’t go above 8%” garbage.
It was absolutly successful for putting our grand children into debt.
Baghdad Joe Biden.
What a joke.
Its a shame the consequences won’t be felt until 2013, thus ensuring Zero’s and Biden’s re-election
Well of course it has...From a certain point of view...
California...They vote on it tomorrow...If I heard correctly...