Biden says they just 'misread' the economy...

[ponycar17]

So Biden says they just misread the economy in their predictions on how the 'stimulus' would work. Hmm, that doesn't seem to be correct because there was a chorus of people calling the administration a bunch of morons for believing FDR-style economic stimulus would ever work in a positive fashion. Now, the administration goes back to moan about what they 'inherited' and how it's worse than they thought. Look, the crux of the matter is that liberal do-gooderness got us into the mortgage crisis which lit the fuse on our current economic meltdown. Suck it up Biden. FDR-era stimulus did not work at the time and will never work. Economics is your friend. Market forces cannot be manipulated because you feel they're unfair or incorrect.

Biden: 'We Misread How Bad the Economy Was'

The vice president says 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 gains momentum.

AP
Sunday, July 05, 2009

The Obama administration "misread" the depth of the economic troubles it inherited and still expects more new jobs in the long term as the spending pace from the $787 billion stimulus plan quickens, Vice President Joe Biden said.

Republican congressional leaders expressed disappointment about the impact of stimulus spending. "I'm very skeptical that the spending binge that we're on is going to produce much good and, even if it does, anytime soon," Senate Republican leader Mitch McConnell of Kentucky said in a statement Sunday.

"I think the economy is just as likely to begin to recover on its own, wholly aside from this, before much of this has an impact."

Biden, in an interview that aired on ABC's "This Week," said the 9.5 percent unemployment rate is "much too high." The administration had predicted unemployment would stay below 8 percent with its stimulus plan.

"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."

He cited the economic conditions inherited from the Bush administration. "It's now our responsibility. So the second question becomes ... 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."

While Biden argued that more jobs will be created in the coming months, House Republican leader John Boehner of Ohio said the GOP had wanted the bill to focus on small businesses and helping people keep more of what they earned.

"This was supposed to be about jobs, jobs and jobs. And the fact is it turned into nothing more than spending, spending and more spending on a lot of big government bureaucracy," Boehner said.

Even House Majority Leader Steny Hoyer, D-Md., said no one is satisfied with the results of the stimulus so far. "But we believe the stimulus was absolutely essential," he said.

Biden noted that the plan 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's premature to say whether the country will need a second stimulus package.

From http://www.foxnews.com/politics/2009...d-bad-economy/

Come on, let's not propagate stupidity any further. Another stimulus package styled after the first one will likely catapult us further into economic damnation!

As Henry Morganthau, FDR's Treasury Secretary, said of their spending on May 9, 1939,

We have tried spending money. We are spending more than we have ever spent before and it does not work. I want to see this country prosperous. I want to see people get a job. I want to see people get enough to eat. We have never made good on our promises. I say after eight years of this Administration we have just as much unemployment as when we started. … And an enormous debt to boot!

From http://blog.heritage.org/2009/01/14/...t-doesnt-work/

Hey Joe!...

[bcj1755]

When, oh when, will Sneaky Joe SHUT HIS FESTERING CAKEHOLE?!?! Everytime I hear him speak, my IQ drops a couple of points!!! Did he eat lead as a child? Was he dropped on his head? Is it possible for anyone to have been born that stupid?! My cat has left more intelligent things in the litterbox

[Big ugly]

He's another Rooster-fish who is driving me towards excessive force. RRRAAAAAAHHHHHHHHH OFF WITH THEIR HEADS.

[johnlives4christ]

LOL. joe biden is funny... after all he is the first black vise president...... guess he is an albino african american.

[Hardballer]

Originally Posted by ponycar17

So Biden says they just misread the economy in their predictions on how the 'stimulus' would work.

No kidding!

[sabashimon]

Originally Posted by bcj1755

.......My cat has left more intelligent things in the litterbox

Thanks alot....I now have Samuel Smith's Oatmeal Stout splattered all over my keyboard

[Blackhawk Dave]

I LOVE Joe. He actually makes sense and lets out the secrets the rest try to hide. He was always a dingbat, and was added just to add "gravitas" to use a media term. One of these days, he's going to be moved to Chaney's bunker and never be let out...because he's a threat to Democrat security.

[artabr]

Thanks for the post, Pony.
I see Bumbling Biden soon becoming the missing link.
He's like the crazed uncle they keep in the closet, when they let him out he will say something interesting.

I love Morganthau's quote, I've used it several times when talking about gov. spending.


Art

[bcj1755]

Originally Posted by sabashimon

Thanks alot....I now have Samuel Smith's Oatmeal Stout splattered all over my keyboard

[PharmrJohn]

Well, what I really want to know has nothing to do with Joe or Barack. I am just fascinated at the new and great fashions that Michelle wears day to day. Gosh, it is great to see her in these new designer cloths and I constantly am wondering.....What is Michelle going to wear today??!!

This adds yet another pet peeve to the many I already possess.

[cycloneman]

If the ecomony were a person in the emergency room you would see parts and pieces missing from said person. How do you misread that? The problem is these morons have not studied economics. Or have an agenda to destroy the economy. Pretty soon it will be plain as day and you will not be able to cover it up.

[Pistolenschutze]

If Biden's brains were converted to propane gas, he wouldn't have enough to light a BBQ.

[GMFWoodchuck]

Well of course the whole stimulus plan isn't working. We got into this mess because we were all in debt and couldn't pay off our loans. Putting the government in the same situation isn't going to fix that. That would be like a father trying to help his son who broke his leg on a bike by breaking his own leg. How's that going to help. It's now just 2 broken legs. Well, now we're broke and the gov't even more broke. Which really means that we're even more broke. It's just idiots at work.

[USMC-03]

Originally Posted by sabashimon

Thanks alot....I now have Samuel Smith's Oatmeal Stout splattered all over my keyboard

If you must have a brewed adult beverage all over your keyboard, at lease it's a darned fine one...

[Pistolenschutze]

Originally Posted by USMC-03

If you must have a brewed adult beverage all over your keyboard, at lease it's a darned fine one...

Indeed true, USMC! One hell of a lot better than I got in the Army. Shimon must be stateside right now. Those PBRs et al. we had should have been put back into the horse they came out of. Well, at least they didn't inflict Lone Star on us.

[45nut]

Originally Posted by sabashimon

Thanks alot....I now have Samuel Smith's Oatmeal Stout splattered all over my keyboard

Diet Coke and home made blackberry pie here Those damn seeds are everywhere now.