Biden: We 'Misread the Economy'


	Biden: We 'Misread the Economy'

etellefs

7-7-2009 1:32 PM

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etellefs says:

Big Admission? Only to those inside the beltway bubble

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7-7-2009 2:36 PM

clip-on-tie

Biden knows how to read?

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/a5f04dfd-1165-4f0b-9bdc-8b8437480b5d/56120A43-F132-4026-A5C7-9113B999B8AB/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://blogs.abcnews.com/george/2009/07/biden-we-misread-the-economy-.html" href="http://blogs.abcnews.com/george/2009/07/biden-we-misread-the-economy-.html" style="font-size: 11px;">blogs.abcnews.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://blogs.abcnews.com/george/2009/07/biden-we-misread-the-economy-.html"><H3>Biden: We 'Misread the Economy' </H3></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://blogs.abcnews.com/george/2009/07/biden-we-misread-the-economy-.html"><P class="date">July 05, 2009 10:10 AM</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://blogs.abcnews.com/george/2009/07/biden-we-misread-the-economy-.html"><P>Big admission from Vice President Joe Biden today. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://blogs.abcnews.com/george/2009/07/biden-we-misread-the-economy-.html"><P>"The truth is, we and everyone else misread the economy," Biden told me during <A href="http://abcnews.go.com/ThisWeek/Politics/story?id=8002421&page=1"><STRONG>our exclusive "This Week" interview in Iraq.</STRONG> </A></P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://blogs.abcnews.com/george/2009/07/biden-we-misread-the-economy-.html"><P>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. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://blogs.abcnews.com/george/2009/07/biden-we-misread-the-economy-.html"><P>"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. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://blogs.abcnews.com/george/2009/07/biden-we-misread-the-economy-.html"><P>"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." </P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/56120A43-F132-4026-A5C7-9113B999B8AB/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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