PrintJuly 5, 2009
Biden with the biggest understatement of the year: 'We misread economy'
Well, "duh" and "Double Duh."
Vice President and Official Obama Administration Idiot Child Joe Biden said something that apparently he and the president are the very last people in the United States to have figured out.
On This Week with George Stephanopolus, Biden kept a straight face when saying this:
"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.
"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 $787 billion economic stimulus plan.
"Now, that doesn't -- I'm not -- it's now our responsibility. 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," he told me.
The vice president argued more time is needed for the stimulus to work.
"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."
So, they misread the economy but the stim bill was just the ticket to get us out of a recession?
And could it be that maybe - just maybe - the business community took one look at your economic plan and began to shed jobs as a result, anticipating how bad you and the president would muck things up?
And Biden is lying when he says that "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." The president surely expected it because that's how he sold it. We needed that stim bill NOW to get the economy moving right away. That's why there was no time to read it.
Glad to see you've now claimed this mess, Joe. Perhaps now you can stop blaming someone else for your administration's incompetence.
