Biden Acknowledges Administration 'Misread' The Economy

BGIF

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Biden Acknowledges Administration 'Misread' The Economy | 44 | washingtonpost.com


We misread how bad the economy was, but we are now only about 120 days into the recovery packageThe 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 distributed the bulk of the money.
Biden on ABC's "This Week." "

The Nation's Unemployment Rate is at 9.5%. (Of course that doesn't include those no longer looking for work.) 500,000 jobs are being lost every month.
Critics on the both the left and the right say that President Obama's $787 billion stimulus package was illconceived. Conservatives should have been more tax cut oriented whilte liberal economists want more public spending.

... did the economic package we put in place, including the Recovery Act, is it the right package given the circumstances we're in?
Biden

Asked if a Second Stimulus Package was needed, V.P. Biden replied it's "premature"
 

BGIF

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This is the title I pasted in the Title Box for this thread, "Biden Acknowledges Administration 'Misread' The Economy"

Curiously on the Front Page that title is truncated to "Biden ..."

I knew the Obama Administration had some clout to bury stories (like trying to find this one on MSNBC my home page) but reaching into IE ... I'm impressed.<!-- google_ad_section_end -->
 

nlroma1o

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I knew the Obama Administration had some clout to bury stories (like trying to find this one on MSNBC my home page) but reaching into IE ... I'm impressed.<!-- google_ad_section_end -->

Next they'll start controlling our leasure websites for there mindless propaganda! ....Comrade...

Did i take it too far? Sorry
 

WabashFalcon

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Shhhhh....Obama, the almightly overlord of our Socialist America, will punish you with his swift hand. Cower with me in the dirt.
 

IrishAlum1997

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At least Biden admitted they were wrong. Thats something Bush would never do and he wasn't right on much.

This is a half-step away from "I know you are but what am I?!!!!"

Broccoli's doing a great job. Let me know when unemployment decreases in PA. Take a deep breath....hold.
 

Junkhead

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Let me know when unemployment decreases in PA. Take a deep breath....hold.

If there is ANYONE on earth that can fix the economy in a few months? I'm still not sold on Obama, but seriously, that is just ridiculous.
 

jason_h537

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I can just imagine Obama giving Biden that shut the fuck up look right now. The story did not unearth any new facts. Obama wanted a stimulus apckage of around 900 billion. Gave the plan to congress who added earmark after earmark, and pushed the bill well over a trillion. Then congress denied the bill saying it was too much and wanted things cut, but not there additions. Republicans wanted more tax cuts (less money coming into government), Dems wanted more money (money that we have to barrow). Then we end up with the current 700 billion stimulus. Listening to Biden is like listening to Palin, you leave the conersation scratching your head in amazement. Obama has been President for 6 months and the stimulus package will not see any real results until the earliest next summer. I know all you guys are upset that our "socialist government' is now taking 16% of your paycheck, unless you make over 250 grand then its more, but calm down. Its gonna take more than 6 months to clean up this mess.
 

Bubba

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Seriously! I mean, he should have had this shit cleared up back in February. What's he been doing? Probably on some website talking about sports this whole time!!
 
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Its too bad Bush didn't have anyone to clear up everything he messed up. I can't believe that there are people out there who think the guy was a good president. He was awful at everything he did his entire adult life.
 

BGIF

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Seriously! I mean, he should have had this shit cleared up back in February. What's he been doing? Probably on some website talking about sports this whole time!!


Is jason really Obama?

Is that why is post count is rising as fast at the national debt?

It would explain why jason believes the government only takes 16% of your paycheck.
 

WabashFalcon

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Its too bad Bush didn't have anyone to clear up everything he messed up. I can't believe that there are people out there who think the guy was a good president. He was awful at everything he did his entire adult life.

Why are people so quick to judge? He TRIED to prevent the market slip but DEMOCRATS blocked legislation that would have prevented it. He was a good president, much better than Zachary Taylor (who only won because of William Henry Harrison), Herbert Hoover (who only extended the Great Depression and was a paranoid cross dresser), Richard Nixon (we all know about Watergate), William Henry Harrison (who died a month into his Presidency), Grant (who's administration was full of corruption), Millard Fillmore (who allowed the South to expand slavery and begin to succede), Johnson (got impeached), Harding (just sucked), and James Buchanan (He refused to challenge either the spread of slavery or the growing bloc of states that became the Confederacy). That doesn't even put Bush in the top fifteen.

Next, here is some stuff he did that, I guess, made him "awful at everything he did his entire adult life."

He got elected President. Have you done that?

2. Fighting AIDS in Africa. I have been surprised that Pres. Bush made this commitment early, stuck to it, and put some real money inton it. It doesn't fit with the rest of the foreign policy of his administration. It produces no immediate benefit for the interests of the U.S. government or major U.S. businesses. I think this one comes right from Pres. Bush's heart.

3. The week of September 11, 2001. The high point of the Bush presidency. He rallied the country. He said clearly that Islam was not the enemy, and opposed all efforts to demonize Muslims here or abroad. An imam was included in the national prayer service for the first time. He went to Ground Zero and praised the emergency responders. The world stood with the U.S. as never before. Gore would have wanted to talk about feelings.

4. Got rid of Partial Birth Abortions.

5. As much as I hate No Child Left Behind, it raised teaching and learning standards.

6. Got rid of stupid taxes: the death tax and marriage tax are two I can think of.

7. He DOUBLED trade with Africa.

8. He did not open up ANWAR for drilling.

9. He created 190 million square miles of ocean as natural preserves.

10. He enforced and got cleaner air and water standards throughout the US.

11. Opened numerous community health centers and doubled their funding.

12. He got prescription drug coverage for senior citizens.

13. Contrary to popular wisdom, in 2001 George Bush was one of the first to warn Congress of the dangers of Fannie Mae and Freddie Mac run amok. Between him and John McCain, the warnings continued through 2006. Leading the pooh poohs were Democrats Sen. Chuck Shumer and U.S. Rep. Barney Frank, both leading recipients of Fannie and Freddie campaign contributions.

14. Whether intended or not, the Iraq war - besides liberating Iraqis from a despot and planting the seeds of a democratic ally in the most dangerous part of the world - distracted Al Qaida from plotting more attacks on the U.S. It drew them into a losing commitment, showing their darkest side to the people of Iraq and the world.

Their power and stature have been significantly diminished. Bin Laden is withering away in a dark Wiziristan cave, emitting an occasional feeble message to his wandering followers.

Care to tell me he did nothing?
 
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Quinntastic

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Why are people so quick to judge? He TRIED to prevent the market slip but DEMOCRATS blocked legislation that would have prevented it. He was a good president, much better than Zachary Taylor (who only won because of William Henry Harrison), Herbert Hoover (who only extended the Great Depression and was a paranoid cross dresser), Richard Nixon (we all know about Watergate), William Henry Harrison (who died a month into his Presidency), Grant (who's administration was full of corruption), Millard Fillmore (who allowed the South to expand slavery and begin to succede), Johnson (got impeached), Harding (just sucked), and James Buchanan (He refused to challenge either the spread of slavery or the growing bloc of states that became the Confederacy). That doesn't even put Bush in the top fifteen.

Next, here is some stuff he did that, I guess, made him "awful at everything he did his entire adult life."

He got elected President. Have you done that?

2. Fighting AIDS in Africa. I have been surprised that Pres. Bush made this commitment early, stuck to it, and put some real money inton it. It doesn't fit with the rest of the foreign policy of his administration. It produces no immediate benefit for the interests of the U.S. government or major U.S. businesses. I think this one comes right from Pres. Bush's heart.

3. The week of September 11, 2001. The high point of the Bush presidency. He rallied the country. He said clearly that Islam was not the enemy, and opposed all efforts to demonize Muslims here or abroad. An imam was included in the national prayer service for the first time. He went to Ground Zero and praised the emergency responders. The world stood with the U.S. as never before. Gore would have wanted to talk about feelings.

4. Got rid of Partial Birth Abortions.

5. As much as I hate No Child Left Behind, it raised teaching and learning standards.

6. Got rid of stupid taxes: the death tax and marriage tax are two I can think of.

7. He DOUBLED trade with Africa.

8. He did not open up ANWAR for drilling.

9. He created 190 million square miles of ocean as natural preserves.

10. He enforced and got cleaner air and water standards throughout the US.

11. Opened numerous community health centers and doubled their funding.

12. He got prescription drug coverage for senior citizens.

13. Contrary to popular wisdom, in 2001 George Bush was one of the first to warn Congress of the dangers of Fannie Mae and Freddie Mac run amok. Between him and John McCain, the warnings continued through 2006. Leading the pooh poohs were Democrats Sen. Chuck Shumer and U.S. Rep. Barney Frank, both leading recipients of Fannie and Freddie campaign contributions.

14. Whether intended or not, the Iraq war - besides liberating Iraqis from a despot and planting the seeds of a democratic ally in the most dangerous part of the world - distracted Al Qaida from plotting more attacks on the U.S. It drew them into a losing commitment, showing their darkest side to the people of Iraq and the world.

Their power and stature have been significantly diminished. Bin Laden is withering away in a dark Wiziristan cave, emitting an occasional feeble message to his wandering followers.

Care to tell me he did nothing?

I would argue that Bush was in the bottom 20 as far as President's go. Just because you're not the absolute worst President in history doesn't make you a good President. I would also argue that we won't know for several more years where President Bush ACTUALLY falls because more time is needed to see how far reaching his effects (Iraq War, namely) reach.

Secondly, he BARELY won each election he was in. And we're talking SKIN. OF. HIS. TEETH. for BOTH elections. Even after he had 4 years to "prove" to the country what kind of President he could be, he BARELY won the election. That is NOT something to brag about for a sitting President, where it is (usually) much easier for them to win their second term - unless they've ROYALLY screwed up their first term.

Thirdly, it wasn't President Bush who united this country after 9/11. It was the people of this country that united this country, thank you. NOT President Bush. And if you want to argue that it is the President that gets the country to rally around them - I would counter then with the argument that whoever had won the 2000 election that was President then would have rallied the country around them. Because it wasn't as if Bush had some great uniting ability that got people around him, it was fact he was President. Thus, Gore would have done the same if he had become President.

As for ANWAR, to tap into the great oil reserves in ANWAR, you would LITERALLY need .01% of the land space. So instead we got some of the worst years for gas prices because we were being bent over by the Saudi Arabians, whereas if President Bush would have allowed us to use LESS THAN ONE PERCENT of ANWAR's available space, we could have tapped into the reserves and have all that money back in our pockets, instead of having it line some foreign oilman's cat's litter box.

As for your #14 - I think the Iraq war was the biggest mistake he could have made at that time. All of our armed forces should have been concentrated in Afghanistan to fight Al-Queda and get the Taliban out of power in Pakistan (because no matter what you say, the Taliban IS still in power in Pakistan). Instead, he split our forces between Afghanistan where we NEEDED it desperately, and Iraq, to fight some WMD's that didn't actually exist. And if he had waited the extra couple weeks for the UN inspectors to present their findings, he would have found that the WMD's weren't there. I agree completely that Suddam Hussein was an oppressive and disgusting ruler who should have been ousted from power, but that kind of revolution needs to come from WITHIN the country from its own people. And, even if you want to say that the Iraqi people needed our help ousting Hussein, that he was too oppressive for a revolution to even form, then it should have at least waited until we had finished in Afghanistan. Instead, Bush split our armed forces and spread them so thin that they became, more or less, ineffective.
 
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jason_h537

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Is jason really Obama?

Is that why is post count is rising as fast at the national debt?

It would explain why jason believes the government only takes 16% of your paycheck.

You guys know that work provided healthcare and 401k's are not taxes right?
I would like to know just how much have your taxes gone up, because mine have gone down 2%
 

IrishAlum1997

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I can just imagine Obama giving Biden that shut the fuck up look right now. The story did not unearth any new facts. Obama wanted a stimulus apckage of around 900 billion. Gave the plan to congress who added earmark after earmark, and pushed the bill well over a trillion. Then congress denied the bill saying it was too much and wanted things cut, but not there additions. Republicans wanted more tax cuts (less money coming into government), Dems wanted more money (money that we have to barrow). Then we end up with the current 700 billion stimulus. Listening to Biden is like listening to Palin, you leave the conersation scratching your head in amazement. Obama has been President for 6 months and the stimulus package will not see any real results until the earliest next summer. I know all you guys are upset that our "socialist government' is now taking 16% of your paycheck, unless you make over 250 grand then its more, but calm down. Its gonna take more than 6 months to clean up this mess.


Yeah, I recall Broccoli telling us all to be patient, that the solutions would not be there by the end of the first term, and perhaps not the second. Way to take a stand! Change you can believe in...maybe...when I'm out of office....
 

Quinntastic

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You can't fix an economy as broken and dysfunctional as ours is right now in a few months time. It's impossible. We won't even know if the steps taken this far will work until 2010 at the earliest. And again I ask the people who don't agree with Obama's approach - what is YOUR viable solution for fixing this mess?
 

jason_h537

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You can't fix an economy as broken and dysfunctional as ours is right now in a few months time. It's impossible. We won't even know if the steps taken this far will work until 2010 at the earliest. And again I ask the people who don't agree with Obama's approach - what is YOUR viable solution for fixing this mess?

Same thing they been saying since Reagan was in office. Free Market. Tax cuts. Family values.
 

Quinntastic

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There's no such thing as a free market. And we can't have tax cuts without cutting social programs. If you cut social programs, the unemployed will go hungry and be without basic healthcare through Medicaid. This breeds desperation, desperation breeds crime. Can't cut the unemployment rate when so many jobs are going overseas. Can't tell companies to stop sending jobs overseas because that's "socialist". Even if we give tax cuts to companies to give an incentive to keep manufacturing jobs in the US, the money companies will save from tax cuts doesn't come near to what they save by getting labor and parts cheap overseas. And we can't discourage that by buying American because no one can afford the higher costs for those goods because everyone is losing their jobs and have to stretch their dollar. What I am trying to get at is that there is not just one easy fix for a mess this huge.
 
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jason_h537

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There's no such thing as a free market. And we can't have tax cuts without cutting social programs.

Exactly, and i meant CONSERVATIVE family values. Which is why they consistantly get the upper class middleaged white male vote.
 

BGIF

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Exactly, and i meant CONSERVATIVE family values. Which is why they consistantly get the upper class middleaged white male vote.

jason, how many upper class middleaged white male voters are there?

It's your popular unsupported buzz phrase. Pony up with some numbers rather than your typical glittering generalities.


What is "Upper Class" economically speaking? Can we get an income range at least?
 

fortwayne_nd

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If there is ANYONE on earth that can fix the economy in a few months? I'm still not sold on Obama, but seriously, that is just ridiculous.

No, I agree the complaining is premature. Bob Bechel the other day mentioned that the twenty-somethings are starting to get worried about the deficit. Too funny.
 

jason_h537

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jason, how many upper class middleaged white male voters are there?

It's your popular unsupported buzz phrase. Pony up with some numbers rather than your typical glittering generalities.


What is "Upper Class" economically speaking? Can we get an income range at least?

Hard to give exact figures in numbers. Upper class tends to be defined as making over $70,000 a year but that is based of off the poverty line. Most polls however tend to cosider it $100,00o a year so it depends on the pollsters definition of upper class. The biggest indicator is percentage of registered voters as opposed to sheer numbers. Seniors and "upper class" white males tend to vote into the 80% or more depending on the election. Lower class and "minorities" tend to turn out in the 40% or less.
 

fortwayne_nd

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You can't fix an economy as broken and dysfunctional as ours is right now in a few months time. It's impossible. We won't even know if the steps taken this far will work until 2010 at the earliest. And again I ask the people who don't agree with Obama's approach - what is YOUR viable solution for fixing this mess?

1) People live within their means
2) People stop breeding like strays cats in a trailer park.
3) The freest health care is eating a sensible diet and getting some exercise - two-thirds of the people in this country are overweight.

A little bit of personal responsibility goes a long way. Its not the economy, its the culture.

My personal opinion? We've not felt nearly enough pain to fix the culture.

At the individual level, the best advice I could give a person is to; eat sensibly, get some exercise (take a walk), and put some money aside for a rainy day.
 

Quinntastic

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But the government telling people those things would be considered "socialist" for one. Don't get me wrong I completely agree with you, but there's no way the government will be able to do anything about that. And, as you said, not enough pain felt yet to get a change at the individual level. Only so much Obama can do, he can't force people to be responsible with their money and health. Yet unfortunately that is what we need.
 

jason_h537

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For example the only time people complain about the environment and altenative fuels is when gas prices go up. Otherwise its drill baby drill
 

WabashFalcon

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Government is government. It is a large, unorganized body that takes give-and-take to work. I hate. Hate it, hate it, hate it. Bring back Federalism!
 

BGIF

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Hard to give exact figures in numbers. Upper class tends to be defined as making over $70,000 a year but that is based of off the poverty line. Most polls however tend to cosider it $100,00o a year so it depends on the pollsters definition of upper class. The biggest indicator is percentage of registered voters as opposed to sheer numbers. Seniors and "upper class" white males tend to vote into the 80% or more depending on the election. Lower class and "minorities" tend to turn out in the 40% or less.

Where to begin? If this was a question in economics, polysci, or basic logic you would get an "F"in any and every one of them.

Hard to give exact figures in numbers.

That's fine I wasn't looking for a precise number. The nearest 100,000 nth would suffice.

Upper class tends to be defined as making over $70,000 a year but that is based of off the poverty line.

You think you can afford a penthouse condo, the club membership and a Bentley on $70,000 a year? You still live at home, don't you?

I hate to break this to you but most L.A.P.D. cops are "Upper Class" by your definition. A rookie cop starts at $51K without a college degree. If they speak a second language they get a 5% boost in pay. They get yearly increases for longevity up to about 6K a year. That's just for being there. Not knowing more not be promoted. And it's without OT. They can more than double their income with OT. A lot of them make $100K. I know 6 cops on the L.A.P.D. they were my source.

Most polls however tend to cosider it $100,00o a year so it depends on the pollsters definition of upper class.

"Most polls"??? Yeah, let's telephone around the nation to ask John Doe what Upper Class Income is? Did you get that concept for watching Jaywalker's? Economists, sociologist and the like use statistical analysis to determine economic classes not polls. Cornelius Vanderbilt gave a simple reply about 80 years ago that set the line quite clearly. When asked what it cost to run his yacht, (not buy one just the maintenance costs) he replied, "If you have to ask, you can't afford it."


A Sargeant in L.A.P.D makes that kind of money to start. Some Patrolmen (20 year men make that) The LATimes (not exactly a republican rag,is it?) ran a story about a Sargeant that made $240,000 in a year "working" OT.

The biggest indicator is percentage of registered voters as opposed to sheer numbers.

Pardon me, BS! WTF does the percentage of registered voters have to do with Upper Class. Apparently the voters in Cook County have been Upper Class for generations. There are voting districts in Texas that have more voters than the Census counted people (including children and illegals).


Seniors and "upper class" white males tend to vote into the 80% or more depending on the election. Lower class and "minorities" tend to turn out in the 40% or less.

Seniors are upper class because they vote in 80% of elections? You make this up as you go along, don't you.

Most seniors are on a fixed income. They don't take all their medications cause they can't afford to. I know that because my wife runs two medical clinics.

Lower class and "minorities" tend to turn out in the 40% or less?? WTF again.



The questions again were:
  • how many upper class middleaged white male voters are there?
  • What is "Upper Class" economically speaking? Can we get an income range at least?
 
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