Biden says administration underestimated severity of INHERITED economic problems – solution is great though!
By LisaB on July 6, 2009 at 2:00 PM in Current Affairs
Today, ABCnews has a story about VP Biden admitting the Obama administration “misread the economy.”
Big admission from Vice President Joe Biden today.
“The truth is, we and everyone else misread the economy,” Biden told me [George Stephanopoulos]. . .
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 unemploymnet rate has ballooned to 9.5 percent in June — the worst in 26 years.
Of course, Biden doesn’t REALLY think they misread the solution to the economy. No, that’s just peachy. What he thinks they “misread” was how bad the situation really is/was.
“The truth is, there was a misreading of just how bad an economy we inherited,” said Biden, who is leading the administration’s effort to implement it’s (sic) $787 billion economic stimulus plan.
Inherited. Misread how dire things were. Well really, if you screwed up on the front end of this situation, what makes anyone think you’ll do any better on the back end – particularly since a solution pretty much depends on an understanding of the problem?
Whatever. Obama and Biden should not be allowed to use the old “inherited” dodge. Why? Well, both Biden and Obama came out of the US Senate. And neither was known as a senator concerned with spending wisely.
And if their “solution” isn’t the magic bullet advertised before the election, that’s on them. Or on the fools who didn’t look closely enough at their “plan.”
NOW!!!! For a bit of prognosticating.






















