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.
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