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Biden Says Bad Economy Was 'Misread'

AP
posted: 143 DAYS 16 HOURS AGO
Text SizeAAA
WASHINGTON (July 5) - Vice President Joe Biden said the Obama administration "misread how bad the economy was" but stands by its stimulus package and believes the plan will create more jobs as the pace of its spending picks up.
Biden, in an interview airing Sunday on TV network ABC's "This Week," said the nation's 9.5 percent unemployment rate is "much too high."
"The figures we worked off of in January were the consensus figures and most of the blue chip indexes out there," Biden said.
"We misread how bad the economy was, but we are now only about 120 days into the recovery package," Biden added. More jobs will be created in coming months, he said.
Biden noted that the $787 billion economic stimulus package was set up to spend the money over 18 months. Major programs will take effect in September, including $7.5 billion for broadband Internet service, plus new money for high-speed rail and the nation's electrical grid, he said.
Biden said it was premature to say whether the country would need a second stimulus package.
On other issues:
Copyright 2009 The Associated Press. The information contained in the AP news report may not be published, broadcast, rewritten or otherwise distributed without the prior written authority of The Associated Press. Active hyperlinks have been inserted by AOL.
2009-07-05 07:29:11
COMMENTS ( 594 )
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Acrylic Artist1
2:45AM Jul 9 2009 
We misread how bad the President and VP was at fixing the economy. 9.286 BS earmarks later they want a second bail out.
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Acrylic Artist1
4:50AM Jul 7 2009 
We misread how bad the President and VP was at fixing the economy. 9.286 BS earmarks later.
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Pep103
12:12AM Jul 7 2009 
ssnmithlg,You Conservatives need to look in the mirror.Blame THE ONE looking back at you.Bush was the most Conservative president we ever had.He only went by the Conservative Philosphy rule book of deregulating Wall Street and a strong defence(TWO Wars).Bush did what terrorists only wished they could have done and brought America to its knees.The Ice Age has begun for conservatives even in your own party.Take responsiblity for your actions.Oh and blame Limbaugh too,he is the most un-American racist on the air waves.
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Ssmithlg
12:46PM Jul 6 2009 
PREACHER'S WIFE'S LETTER
Preacher's wife's letter
How's this for **********************. This was written by a
pastor's wife in biblical prose as a commentary of current events. It is Brilliant.
~~~~~~~~~~
And it came to pass in the Age of Insanity that the people of the land called America ,
having lost their morals, their initiative, and their will to defend their liberties,
chose as their Supreme Leader that person known as "The One".

He emerged from the vapors with a message that had no meaning; but He
hypnotized the people telling them, "I am sent to save you. My lack of experience,
my questionable ethics, my monstrous ego, and my association with evil doers are of no consequence.
For I shall save you with Hope and Change.

Go, therefore, and proclaim throughout the land that he who preceded me is evil,
that he has defiled the nation, and that all he has built must be destroyed."
And the people rejoiced, for even though they knew not what "The One" would do,
he had promised that it was good; and they believed.

And "The One" said "We live in the greatest country in the world. Help me change everything about it!"
And the people said, "Hallelujah! Change is good!"

Then He said, "We are going to tax the rich fat-cats." And the people said "Sock it to them!"
"And redistribute their wealth." And the people said, "Show us the money!"
And then He said, "Redistribution of wealth is good for everybody"
And Joe the plumber asked, "Are you kidding me? You're going to steal my
money and give it to the deadbeats??" And "The One" ridiculed and taunted him,
and Joe's personal records were hacked and publicized.
One lone reporter asked, "Isn't that Marxist policy?" And she was banished from the kingdom!

Then a citizen asked, "With no foreign relations experience and
having zero military experience or knowledge, how will you deal with radical terrorists?"
And "The One" said, "Simple. I shall sit with them and talk with them and show them how nice we really are;
and they will forget that they ever wanted to kill us all!" And the people said, "Hallelujah!!
We are safe at last, and we can beat our weapons into free cars for the people!"

Then "The One" said, "I shall give 95% of you lower taxes." And one, lone voice said,
"But 40% of us don't pay ANY taxes." So "The One" said, "Then I shall give you some of the taxes
the fat-cats pay!" And the people said, "Hallelujah!! Show us the money!"

Then "The One" said, "I shall tax your Capital Gains when you sell your homes!"
And the people yawned and the slumping housing market collapsed.

And He said, "I shall mandate employer-funded health care for EVERY worker and raise the minimum wage.
And I shall give every person unlimited healthcare and medicine and transportation to the clinics."
And the people said, "Give me some of that!"

Then he said, "I shall penalize employers who ship jobs overseas."
And the people said, "Where's my rebate check?"

Then "The One" said, "I shall bankrupt the coal industry and electricity rates will skyrocket!"
And the people said, "Coal is dirty, coal is evil, no more coal! But we don't care for that part about higher
electric rates." So "The One" said, "Not to worry. If your rebate isn't enough to cover your expenses,
we shall bail you out. Just sign up with ACORN and your troubles are over!"

Then He said, "Illegal immigrants feel scorned and slighted. Let's grant them amnesty, Social Security,
free education, free lunches, free medical care, bi-lingual signs and guaranteed housing..."
And the people said, "Hallelujah!!" And they made him King!

And so it came to pass that employers, facing spiraling costs and ever-higher taxes,
raised their prices and laid off workers. Others simply gave up and went out of business and the
economy sank like unto a rock dropped from a cliff. The banking industry was destroyed.
Manufacturing slowed to a crawl. And more of the people were without a means of support.

Then "The One" said, "I am the "The One" - The Messiah - and I'm here to save you!
We shall just print more money so everyone will have enough!" But our foreign trading partners said unto Him, "Wait a minute. Your dollar is not worth a pile of camel dung! You will have to pay more..." And the people said, "Wait a minute. That is unfair!!" And the world said, "Neither are these other idiotic programs you have embraced. Lo, you have become a Socialist state and a second-rate power. Now you shall play by our rules!"

"And the people cried out, "Alas, alas!! What have we done?" But yea verily, it was too late. The people set upon "The One" and spat upon him and stoned him, and his name was dung. And the once mighty nation was no more; and the once proud people were without sustenance or shelter or hope. And the Change "The One" had given them was as like unto a poison that had destroyed them and like a whirlwind that consumed all that they had built. And the people beat their chests in despair and cried out in anguish, "Give us back our nation and our pride and our hope!!" But it was too late, and their homeland was no more.

You may think this is a fairy tale, ******** ********* happening RIGHT NOW !
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HShaw007
12:13PM Jul 6 2009 
biden would blame the eoonomy on abe lincoln
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