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Big admission from Vice President Joe Biden today.

"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.

(Full article here).

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ORIGINAL: Sanity

What are you guys doing better than Bush did, Joe, so far as the economy is concerned?

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The vice president argued more time is needed for the stimulus to work.

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even though Congressional Democrats arguably share some portion of responsibility:

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ORIGINAL: rulemylife

For starters, recognizing there is a problem, recognizing they underestimated the scope of the problem, and taking responsibility for it, unlike this guy:

Bush Says Economy Sound As Inflation Rises To Record Levels"I think the system basically is sound, I truly do," Bush said. "And I understand there's a lot of nervousness. . . . But the economy is growing, ...

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ORIGINAL: lronitulstahp

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even though Congressional Democrats arguably share some portion of responsibility:

That's not arguable, is it?

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ORIGINAL: slvemike4u
As much as I appreciate all of your diligence and your unabashed enthusiasm for the task you have set for yourself.Namely being the number one poster in opposition to the new administration(in volume,if not relevance or content).Please point me to all the opposition threads you started pointing out the multitude of mistakes the Bush Administration made ,economically speaking during their 8 years in office.
As for the subject of the thread,please point out all the genius's who correctly "read" the economy...and predicted just how bad these employment numbers were going to be.
By the way if you have some extra time on your hands...while compiling the first extensive list of your Bush economic criticisms....perhaps you will tell us all how you stood in opposition to all of Bush's failed foreign policy decisions(chief amongst these the decision to go looking for WMD in Iraq)...I'll check back later for these oh so lengthy lists.

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ORIGINAL: Musicmystery

Step 1 -- policies for the past several years have placed the U.S. in a structural mess

Step 2 -- to "solve" the problem, political opponents blame each other

Step 3 -- the public doesn't want to hear anything about the sacrifices that will be necessary to fix it

Consequence -- the economy is in a mess.

What's to misread?

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Do you enjoy the sound of crickets chirping?

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ORIGINAL: Mercnbeth
Want to hear "crickets chirping"?

Ask an Obamite how any of the current trends and Administration policies point to a positive result?

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ORIGINAL: slvemike4u

As much as I appreciate all of your diligence and your unabashed enthusiasm for the task you have set for yourself.Namely being the number one poster in opposition to the new administration(in volume,if not relevance or content).Please point me to all the opposition threads you started pointing out the multitude of mistakes the Bush Administration made ,economically speaking during their 8 years in office.
As for the subject of the thread,please point out all the genius's who correctly "read" the economy...and predicted just how bad these employment numbers were going to be.
By the way if you have some extra time on your hands...while compiling the first extensive list of your Bush economic criticisms....perhaps you will tell us all how you stood in opposition to all of Bush's failed foreign policy decisions(chief amongst these the decision to go looking for WMD in Iraq)...I'll check back later for these oh so lengthy lists.

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ORIGINAL: Musicmystery

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ORIGINAL: slvemike4u

As much as I appreciate all of your diligence and your unabashed enthusiasm for the task you have set for yourself.Namely being the number one poster in opposition to the new administration(in volume,if not relevance or content).Please point me to all the opposition threads you started pointing out the multitude of mistakes the Bush Administration made ,economically speaking during their 8 years in office.
As for the subject of the thread,please point out all the genius's who correctly "read" the economy...and predicted just how bad these employment numbers were going to be.
By the way if you have some extra time on your hands...while compiling the first extensive list of your Bush economic criticisms....perhaps you will tell us all how you stood in opposition to all of Bush's failed foreign policy decisions(chief amongst these the decision to go looking for WMD in Iraq)...I'll check back later for these oh so lengthy lists.

mike,

Are you new here?

(1) I'm hardly the harsh critic of the current policies you describe. Send me THOSE threads.

(2) You somehow missed my 8 year criticism of Bush?

Or use your wait time to catch up on old threads.

I AM saying that neither politicians nor public want any taste of actually addressing our economic woes, and they haven't for years. Meanwhile the shit piles higher. Not rocket science.