Captain Obvious.
Posted on 07/05/2009 9:46:44 PM PDT by Graybeard58
Joe Biden told "This Week" that the Obama administration "misread how bad the economy was."
He also the administration made this mistake because they just looked at the consensus forecasts at the time...and they proved to be wrong.
If the latter is true, the administration deserves the crap it has been getting. In the months leading up to Obama's inauguration, the economy fell off a cliff. The credit markets seized up. Several major investment banks went bust. The Fed and Treasury talked of an apocalypse. Everywhere you looked, you heard one analyst after another saying the country was plunging toward another Great Depression.
If anything, the economy since the inauguration has been better than many analysts feared. So this "we didn't get it" sounds like revisionist history to us.
More likely, in our opinon, the administration concluded that it would never get its huge spending increases passed if its projections reflected the "most likely" scenario for the economy. And so it produced the economic forecasts (growth, stress tests, jobs, etc) that have begun to destroy Obama's credibility on this critical issue.
Regardless of the thinking behind the over-optimism, Obama has made a serious error here. Recovering from financial disasters like this usually takes years--and it likely will this time, too, regardless of what Obama does.
Above all else on the economy, Obama had to under-promise and over-deliver. By promising a relatively swift recovery, he has set himself up for failure. If the economy does recover, he'll be fine, but if it doesn't (which seems more likely), he will increasingly be blamed for failing to fix it. And given the singular importance of this issue to most Americans right now, it is hard to see how his presidency will survive that.
(Excerpt) Read more at businessinsider.com ...
As Watson said to Holmes after plunging the toilet, "No shit, Sherlock."
These two rectums sure sounded sure of themselves during the campaign though, didn't they?
Morons.
These “blew it” guys are the same ones who now want to take over our health care. Whoa!
Hey Joe, Not all the economists, or even 1/2 the public wanted either the bailouts or the stimulus $.
When Bush ‘misread’ intelligence from Iraq, the MSM quickly turned it into a lie. Let’s follow suit, shall we?
OBAMA LIED, THE ECONOMY DIED.
All of the above are now in power, with the majority of Congress comprised of the same feckless imbeciles..
How did this happen???
Illiterate, incompetent and welfare dependent morons vote, while gangs of the same ilk “count” the votes or stuff the ballot boxes..
I figure it’s the Obama way to show how stupid whitey is. Biden in power is very stupid, Obama gets that much.
Another factor might be that they’re socialist morons.
No, Obama is doing precisely what he planned.
Obama is a sick, sick puppy who hates the United States and is systematically, deliberately destroying the economy.
It is all about crushing the American Spirit to set up his Marxist (yes, Marxist) Regime.
And did Obama approve this statement?
Let’s see Obama going to Russia this week and Biden admitting they screwed up the economy?
Can we trust them to handle Russia any better?
I still don't see how a dope-smoking, blackmailing community organizer who has never had a job has an credibility on the economy.
But he really wasn't elected for that reason, was he?
YEAH....this could be the camel that breaks Obama’s back.....We do NOT want to live in a country where they BLOW HEALTHCARE....like they’ve blown EVERYTHING else they’ve touched!
They didn’t blow it on the economy, they never gave a crap about it in the first place. The crisis came to them gift wrapped with a big bow on top and they wasted no time using it to get what they wanted - $800B of political payoff, control over the private sector, and crap ‘n tax. Next stop: your liberty over your own health and medical privacy.
Obama, Biden and the rest of their cronies need to just take a hike.
BTW if you're going to spend trillions why imitate the New Deal and its cacophony of projects, some good, most silly. Copy Kennedy and go to Mars. Copy Eisenhower and leave a legacy connecting the nation. Not enough freebies for those who don't like work, I guess.
Yep. Typical abortion loving Marxist economy: degrip the ki to eath so that you look strong, with a career and full of grip.
Did they blow it? Get a grip Biden, they are murderers who merely are temporarily sobered up, looking over the shoulder before going on yet another streak.
Larry Sinclair also blew it.
I thought for a moment that Obama could do something that might help. He could resign which would be a step in the right direction but then Biden would be in charge. It might help the mood of the country to have a President they could laugh at and the media could actually do their job without swooning and gushing over the President's every move.
Hey Joe, stand up for the “The Big Lewinsky”.
I don't understand what you're trying to say here.
Larry Sinclair also blew it.
/////////////
AND the book is out!
http://larrysinclair-0926.blogspot.com/
BTW if you're going to spend trillions why imitate the New Deal and its cacophony of projects, some good, most silly. Copy Kennedy and go to Mars. Copy Eisenhower and leave a legacy connecting the nation. Not enough freebies for those who don't like work, I guess.
"If you are going to spend trillions"... Why not spend it on a program of building nuclear power plants? Or getting more water to the U.S. Southwest? Or development of clean extraction / use of shale oil? No... those things would make too much sense!
Would you go to a community organizer for financial advice??
Like you the people on this board sure wouldn’t, Obama may talk a good game that the mentally challenged can’t see thru like us.
Problem is we will pay for the mistake they made.
The d in my keyboard does not work well...
I meant:
“degrip” the kid to death so that you look strong, with a career and full of grip.
In other words, I cannot wait to see myself out of this loop, with Democrates taking care of each other the way they claim they can. I know Saddam had Christians as body guards and Khaddafi has women because none of them trust muslim men. I don’t think this time the dims will be as lucky with the islam butt perforated Kenyan in power.
Those will work!
“I still don’t see how a dope-smoking, blackmailing community organizer who has never had a job has an credibility on the economy.
But he really wasn’t elected for that reason, was he?”
Zero was elected because he was a “cool, supposedly articulate, Black guy”.
And clean!
And hope and change!
Obama was elected because of the color of his skin, no other reason.
All government can do is impede the economy by regulation or taxation...
Obummer and Biden could, and would f*ck up a one car funeral.
Do you think DE people still believe him and follow him slavishly?
Yo Joe, might want to talk to the big guy. Yeah, the one touting crap and trade as a jobs bill.
Everything of note these two morons have done has and will continue to destroy the formulation of capital and employment in the private sector. That is no accident.
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