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Joe Biden: "We misread how bad the economy was"

Agree or disagree with the politics of Joe Biden, the one thing that most people, including myself, like about Biden is that he doesn't pull any punches.

And that was certainly the case when he said this week that, "We misread how bad the economy was".

Indeed, Washington has swallowed their economic compass.  And it hasn't just been the Democrats.  Let's not forget the "token" stimulus checks that the Bush administration mailed out in the Spring of 2008.  Or the $7,500 first time home buyer tax credit/loan that was intended to stimulate the housing market out of a depression.  There is a long list of failed housing and economic policies that have been rubber stamped in Washington over the past year.

The problem of course is that while admitting you made a mistake is noble and honorable, it appears as though they are not going to do anything to correct the mistake.

 

Comment balloon 2 commentsKevin Robinson • July 09 2009 09:02AM

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That is so sad. Here he is stating in PUBLIC that he can read. It is evident to all that this is NOT the case-Dinah Lee

Posted by Dinah Lee Griffey, Managing Broker Windermere Peninsula Properties (Windermere Peninsula Properties) almost 10 years ago

Kevin,

Thank you so much for the re-blog, I really appreciate it.

But according to Obama, it is not their fault, they simply did not have all of the information in order to make an educated decision about the economy.  Things were worse than they thought.  But then why did he say numerous times that this is the worst crisis since the great depression?

Posted by Mark MacKenzie almost 10 years ago

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