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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...

WASHINGTON - Vice President Joe Biden said the Obama administration "misread how bad the economy was" but stands by its stimulus package and believes the plan will create more jobs as the pace of its spending picks up. Biden, in an interview airing Sunday on ABC's "This Week," said the nation's 9.5 percent unemployment rate is "much too high." "The figures we worked off of in January were the consensus figures and most of the blue chip indexes out there," Biden said. "We misread how bad the economy was, but we are now only about 120 days into the recovery...

Here is video of Vice-President Joe Biden admitting today on This Week with George Stephanopoulos that the Obama Administration "misread" the economy earlier this year when the pushed the stimulus bill. The administration thought Unemployment would not exceed 8% this year, and it is now 9.5%. They also discussed some economists who say there is a need for another stimulus package! Oh brother - if the first one did not work, do it again! . . . . (Watch Video)

WASHINGTON -- Vice President Joe Biden said the Obama administration "misread how bad the economy was" but stands by its stimulus package and believes the plan will create more jobs as the pace of its spending picks up. Biden, in an interview airing Sunday on ABC's "This Week," said the nation's 9.5 percent unemployment rate is "much too high." "The figures we worked off of in January were the consensus figures and most of the blue chip indexes out there," Biden said. "We misread how bad the economy was, but we are now only about 120 days into the recovery...

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.

A Letter to Our Readers By Katharine Weymouth Sunday, July 5, 2009 Dear Reader: I want to apologize for a planned new venture that went off track and for any cause we may have given you to doubt our independence and integrity. A flier distributed last week suggested that we were selling access to power brokers in Washington through dinners that were to take place at my home. The flier was not approved by me or newsroom editors, and it did not accurately reflect what we had in mind. But let me be clear: The flier was not the only...

I want to apologize for a planned new venture that went off track and for any cause we may have given you to doubt our independence and integrity. A flier distributed last week suggested that we were selling access to power brokers in Washington through dinners that were to take place at my home. The flier was not approved by me or newsroom editors, and it did not accurately reflect what we had in mind. But let me be clear: The flier was not the only problem. Our mistake was to suggest that we would hold and participate in an...

Washington Post publisher Katharine Weymouth said yesterday that a hasty time frame, haphazard planning and miscommunication led to the release of a promotional flier that inaccurately described the newspaper's plans for a series of sponsored "salons" with influential insiders. "We decided to throw this particular event very recently," Weymouth said in an interview. "We said, 'Let's not wait. Let's pick a date and let's go for it.' When you rush like that, you make mistakes." Weymouth said she takes responsibility for the controversy, and she took the rare step of writing a letter to readers, which appears today on the...

On its current course, the Middle East is headed for nuclear war. The only question is whether someone will act to take history off that course. That won't be the left wing extremist/narcissist we now have in the White House, who is lost in his own dream world. Like Adolf Hitler, the theocrats who run Iran have told us exactly what they plan to do. They plan to build nuclear weapons, and use them to "wipe Israel off the map." They have said this plan is rooted in their fundamental religious beliefs and doctrines regarding the return of their God...

The Republican leadership (whoever that is) has a problem. The party has lost power across the board in Washington D.C. and in many states. The politicians in the party are divided over what needs to be done to regain power. Some advocate a return to conservative principals, neocons still push national defense as the primary issue, and still others believe the party must take a small turn to the left. The top of the party is clearly divided, and the Democrats love to talk about it. The media is also reporting on this divide and the lack of a clear...

The British Government responded with ill-disguised fury tonight to the news that four Chinese Uighurs freed from Guantanamo Bay had been flown for resettlement on the Atlantic tourist paradise of Bermuda. The four arrived on Bermuda in the early hours, celebrating the end of seven years of detention after learning that they were to be accepted as guest workers. But it appears that the Government of Bermuda failed to consult with the Foreign and Commonwealth Office on the decision to take in the Uighurs – whose return is demanded by Beijing – and it could now be forced to send...

A MOTHER desperate to have a second child has told how she lost her last IVF embryo when the NHS implanted it into the wrong patient. When the other woman found out that the embryo was not hers, she aborted it. Details of the blunder raise fresh questions about the way IVF clinics are regulated. The Sunday Times has previously revealed that women undergoing fertility treatment have had their eggs fertilised with the wrong sperm. Deborah, the woman who lost her chance of another baby, is so traumatised by the error that she is reluctant to risk further IVF to...

Biden tells "Meet the Press" that "everyone guessed wrong" on the impact of the stimulus, economy was worse off than anyone thought. Backs away from the estimate that the funds could create or save 3.5 million jobs, instead promises 600,000 by the end of the summer.

The Law: The Supreme Court's decision Tuesday to lift a bondholder stay in the Chrysler bankruptcy fails to grasp the value of legality in markets. It strengthens the hand of government but weakens the rule of law.Chrysler's bondholders, who poured $6.9 billion into Chrysler coffers, now find themselves on the wrong side of the Obama administration's bankruptcy restructuring. It's an outrage that undermines the very foundation of why bond markets exist at all. Three Indiana pension groups did try to stop the feds' free-form bankruptcy at the Supreme Court Tuesday. But their case was inexplicably dismissed, the court saying they...

In his speech to the Muslim world in Cairo, President Barack Obama claimed: “As a student of history, I also know civilization’s debt to Islam. It was Islam — at places like Al-Azhar University — that carried the light of learning through so many centuries, paving the way for Europe’s Renaissance and Enlightenment. It was innovation in Muslim communities that developed the order of algebra; our magnetic compass and tools of navigation; our mastery of pens and printing.” Obama is not much of a “student of history” if he believes this. Almost every advance he attributes to the Muslims was...

The trouble with U.S. President Barack Obama's boffo speech in Cairo to the Muslim world was not what he said -- but that he said it. To explain: The content was generally fair, rational, evenhanded and fitting for a moderator, arbitrator or neutral adjudicator. But that's not what Obama is. He is, or should be, the embodiment of his country and its interests. When he appoints himself the go-between who sees all sides and takes no sides -- who chastises all conflicting parties equally and impartially -- he does a disservice to himself, his country and to truth. His speech...

US President Barack Obama made a major gesture of conciliation to Iran on Thursday when he admitted US involvement in the 1953 coup which overthrew the government of Prime Minister Mohammad Mossadegh. "In the middle of the Cold War, the United States played a role in the overthrow of a democratically elected Iranian government," Obama said during his keynote speech to the Muslim world in Cairo. It is the first time a serving US president has publicly admitted American involvement in the coup. (snip) Obama also said: "For many years, Iran has defined itself in part by its opposition to...

WASHINGTON - The government's inadvertent and red-faced Internet posting of a 266-page list of U.S. nuclear sites provided a one-step guide for anyone wanting details about such sensitive information. Obama administration officials said Wednesday the document contained no classified material about nuclear weapons. They contended the locations and other details already were available from public sources. Energy Secretary Steven Chu said "a snafu" led to the online posting. "A little embarrassing," he acknowledged. The document, stamped "highly confidential safeguards sensitive," made it onto the Government Printing Office's Web site - and why that happened was not immediately clear. A newsletter...

The federal government mistakenly made public a 266-page report, its pages marked “highly confidential,” that gives detailed information about hundreds of the nation’s civilian nuclear sites and programs, including maps showing the precise locations of stockpiles of fuel for nuclear weapons. The publication of the document was revealed Monday in an on-line newsletter devoted to issues of federal secrecy. That publicity set off a debate among nuclear experts about what dangers, if any, the disclosures posed. It also prompted a flurry of investigations in Washington into why the document was made public. On Tuesday evening, after inquiries from The New...

Vice President Joe Biden, well-known for his verbal gaffes, may have finally outdone himself, divulging potentially classified information meant to save the life of a sitting vice president. According to a report, while recently attending the Gridiron Club dinner in Washington, an annual event where powerful politicians and media elite get a chance to cozy up to one another, Biden told his dinnermates about the existence of a secret bunker under the old U.S. Naval Observatory, which is now the home of the vice president. The bunker is believed to be the secure, undisclosed location former Vice President Dick Cheney...