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  1. #1
    Hang 'Em High Hurricane Halen's Avatar
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    12.15.17 @ 11:01 PM
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    Default That V.P. Guy Joe Biden.





    Biden: We 'Misread the Economy'
    July 05, 2009 10:10 AM

    PrintRSSE-mailShare this story with friendsBuzz Up!FacebookTwitterStumbleUponMoreBig 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.

    "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."

    Biden didn't rule out a second government stimulus package, but downplayed calls from Nobel Prize-winning economist Paul Krugman this week that a second stimulus will be needed.

    I pressed the vice president, who is also leading the administration's middle-class task force, on whether he'd rule out a second stimulus package.

    "So, no second stimulus?" I asked.

    "No, I didn't say that," Biden said, "I think it's premature to make that judgment. This was set up to spend out over 18 months. There are going to be major programs that are going to take effect in September, $7.5 billion for broadband, new money for high-speed rail, the implementation of the grid -- the new electric grid. And so this is just starting, the pace of the ball is now going to increase.


    WE ARE SO FUCKED. You all do realize this, right?

    We are currently floating in the toilet bowl, will someone, ANYONE just push the handle down and get it over with already?

    Thanks Joe for letting this cat out of the bag.

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  2. #2
    Eruption
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    09.16.17 @ 05:43 PM
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    How about that middle class stimulus?

  3. #3
    Baluchitherium loveevhsince79's Avatar
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    10.23.15 @ 04:49 PM
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    How is it that they underestimated the extent of the crisis when all we heard from the Obama administration was that there would be a total meltdown of the financial system if the stimulus plan wasn't passed.

    It would seem that the economy needs to take it's natural course of recovery rather than the government passing another bill to pay for their agenda.
    Life may not be the party we hoped for, but while we are here we might as well dance.

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  4. #4
    Future's in the past....
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    11.03.17 @ 01:35 PM
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    I bet you old "W" is soooo glad not to be in the White House anymore....
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  5. #5
    Atomic Punk ziggysmalls's Avatar
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    12.15.17 @ 08:52 AM
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    I think in a few years these guys will make more than a few people wish McCain or even Hillary won.

    I know this. After 6 months on the job, we have higher unemployment, deficit, gas prices and the stock market is down. Some recovery.

    Now they want to spend more because they didn't understand the economy properly.

    At least when you looked at Bush, you knew he was clueless. With these guys and how smug they are, it irritates me even more.

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    Atomic Punk
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    07.24.11 @ 04:36 PM
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    i love how the economy has become this mysterious entity to itself...something that needs to be read, understood, appeased, stimulated.

    Can't you just see Obama and his cronies sitting in a room with a bunch of chicken bones and tea leaves trying to "read" the economy...
    Stay out of it, dude.


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    11.03.17 @ 01:35 PM
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    Quote Originally Posted by ziggysmalls View Post
    I think in a few years these guys will make more than a few people wish McCain or even Hillary won.

    I know this. After 6 months on the job, we have higher unemployment, deficit, gas prices and the stock market is down. Some recovery.

    Now they want to spend more because they didn't understand the economy properly.

    At least when you looked at Bush, you knew he was clueless. With these guys and how smug they are, it irritates me even more.
    It's almost as if they want to throw their arms up and say "We haven't a clue to when this will end", but they full well know they cannot.
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    Baluchitherium loveevhsince79's Avatar
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    10.23.15 @ 04:49 PM
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    Quote Originally Posted by VanHalenRules View Post
    I bet you old "W" is soooo glad not to be in the White House anymore....
    I think it's been interesting that if "W" had made the blunder of calling Putin President not once, not twice but three times in a very short time span, the press would have crucified him yet Obama does it and there is barely a mention. It's not to say that it isn't an easy mistake to make since Putin was President, it's just aggravating how it's handled by the media.
    Life may not be the party we hoped for, but while we are here we might as well dance.

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  9. #9
    Hang 'Em High sickman's Avatar
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    12.15.17 @ 03:21 AM
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    I used to jog but the ice cubes kept falling out of my glass.

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    I thought people voted for change? Hows that working out?

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    Quote Originally Posted by ziggysmalls View Post
    I think in a few years these guys will make more than a few people wish McCain or even Hillary won.

    I know this. After 6 months on the job, we have higher unemployment, deficit, gas prices and the stock market is down. Some recovery.

    Now they want to spend more because they didn't understand the economy properly.

    At least when you looked at Bush, you knew he was clueless. With these guys and how smug they are, it irritates me even more.
    To be fair - it takes more than six months to make any real change and people need to understand that. It may take his whole term to make the changes needed by the simple fact that things take time. I can't see how anyone can expect real change no matter who is the President in only six months.

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    Quote Originally Posted by The Player View Post
    To be fair - it takes more than six months to make any real change and people need to understand that. It may take his whole term to make the changes needed by the simple fact that things take time. I can't see how anyone can expect real change no matter who is the President in only six months.
    You have to fix the root of the problem not just bail people out and throw money at people. Its called survival of the fitest. You can't save everyone, well, non-socialist rational thinking people feel this way.

  13. #13
    Atomic Punk ziggysmalls's Avatar
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    Quote Originally Posted by The Player View Post
    To be fair - it takes more than six months to make any real change and people need to understand that. It may take his whole term to make the changes needed by the simple fact that things take time. I can't see how anyone can expect real change no matter who is the President in only six months.
    I know you can never find anything on the internet so I found this for you.

    http://michaelscomments.files.wordpr...-june-dots.gif

    Check it out. This recession as bad as it may seem is nothing compared to the recession of the early 80's. Remember they always say "worst numbers in 25 years" If what we were going through was the worse thing since the depression then they would say "in 70 years"

    I remember watching Chris Matthews I believe on MSNBC when the stimulus bill passed. He said something to the effect of the recession is now Obama's recession and not Bush's because he is doing such a drastic thing to correct it.

    He is an 1/8th of his way through his presidency. If he is not accountable now, when is he?

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    Quote Originally Posted by ziggysmalls View Post
    I know you can never find anything on the internet so I found this for you.

    http://michaelscomments.files.wordpr...-june-dots.gif

    Check it out. This recession as bad as it may seem is nothing compared to the recession of the early 80's. Remember they always say "worst numbers in 25 years" If what we were going through was the worse thing since the depression then they would say "in 70 years"

    I remember watching Chris Matthews I believe on MSNBC when the stimulus bill passed. He said something to the effect of the recession is now Obama' recession and not Bush's because he is doing such a drastic thing to correct it.

    He is an 1/8th of his way through his presidency. If he is not accountable now, when is he?
    You need to put things into perspective. When a failing company hires a new CEO to hopefuly turn things around - it's going to take at least a year before the company is potentially going to start seeing a profit from any changes that have been implemented (which will take time and money to do). This is a company - we are talking about America with so much red tape, it surprising that anything gets done.

    Come back in a year and then spew your hate for Obama - then you have a valid point. Six months in - you don't.

  15. #15
    Atomic Punk ziggysmalls's Avatar
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    12.15.17 @ 08:52 AM
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    I didn't vote for Obama but I was and am still rooting for him because I want the country to get back on its feet again. He is my president and since I served in the military, I still have this inner obligation to support my commander in chief. I actually blame Nancy Pelosi and her minions more than Obama.

    However that being said, I am not impressed at what I am seeing. Health care for one is not an issue that should be looked at. He should have had more oversight at the stimulus package. Everybody can plainly see that it had nothing to do with simulating the economy but more with special interests of his party. His signature is on there and therefore the buck stops with him.

    About the only thing that has improved under his watch is world relations. However presidents shouldn't make decisions based on a popularity contests.

    I understand it will take time but I don't see any signs that things are going to take an upward swing. If I had to bet money, it will get worse rather than better. We have the same problem as we did 6 months ago except our deficit is far larger. That is never a good thing to have.

 

 

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