The Administration guessed wrong?

WASHINGTON -- Vice President Joe Biden said Sunday that "everyone guessed wrong" on the impact of the economic stimulus, but he defended the administration's spending designed to combat rising joblessness.

Just 10 days before taking office, Obama's top economic advisers released a report predicting unemployment would remain at 8 percent of below through this year if an economic stimulus plan won congressional approval.
Yet the Bureau of Labor Statistics reports that unemployment in May rose to 9.4 percent.
Biden said the White House is keenly aware of the gap between the rhetoric used to sell fast passage of the legislation and the reality that has 14.5 million people unemployed.
"No one realized how bad the economy was. The projections, in fact, turned out to be worse. But we took the mainstream model as to what we thought -- and everyone else thought -- the unemployment rate would be," Biden said.

Those projects came from a report co-written by Biden's chief economist, Jared Bernstein. Last week, Bernstein briefed reporters on the stimulus spending and insisted the report was in line with others' research, but not aligned with reality.


Here's the entire article. . . . .

www.foxnews.com...


We have trusted our entire economy to these jokers. Unemployment keeps going up regardless of the "stimulus" money being poured into the economy.

And the best they can come up with is a "my bad", we guessed wrong?

-sigh-

reply to post by mikerussellus


The funniest line in all of this is that their report was not "alligned with reality".

Probably the most honest thing to come out of this White House ever. . .

at least im laughing about how they ruined our nation

oh god i hope i dont stop laughing


and whom knew they were wrong???

*drumroll*

reply to post by mikerussellus


How did they underestimate it.

I'll I heard everyday on the news was Obama going out and saying, "Guys this sht is pretty f-ed up, it's really bad"

Then the media was disheartened and since then its been "Guys things are looking ^^^ UP! It's all going to be peachy!"

Then i'm left wondering what the heck is going on, then I stopped listening to the president, and listened to Greenbicman! He knows alot more about the economy then the sitting president!

This shouldn't have been an issue if everyone was doing what they were supposed to be. Thier Jobs.

Unfortunately, all any administration is worried about is how they can manipulate their laws to rob us blind and make a profit while we suffer and break our backs to barely feed our kids.

They're ALL criminals and should be tried and put to death for treason for what they have done to this country.

I posted this in the hopes of gaining some insight as to what they ARE thinking.

The economy is bad.
We need to spend trillions.
The economy will get better because we spent trillions.
The economy keeps getting worse.
-oops- I guess we guessed wrong?

As much as GB #'d me off, he would have been drawn and quartered by the media and angry villagers with pitchforks if he had said that.

Here they can say oops and that their initial reports as to what to do with the economy weren't aligned with reality!?!

I just thought of a few other examples where this might apply;

Pilots- This button enables the landing gear. . .
oops, I guessed wrong

Doctors-This is the spleen. . .
oops, I guessed wrong

A girl I knew in college- Yeah, I'm on the pill. . . .
oops, I guessed wrong

Tim Geitner- Yeah, my taxes are correct. . .
oops, I guessed wrong

Last week at my house-Honey? Is this mayo safe to eat?. . .
oops, I guessed wrong

A weatherman- Nope, no tornado's around here. . .
oops, I guessed wrong

When I rewired my parents' kitchen-Dad? did you get the circuitbreaker off?
oops, I guessed wrong

When the Obama administration destroys an entire economy. . . . .

you guessed it. . .

oops, I guessed wrong.

reply to post by mikerussellus

In all fairness to the administration, EVERY single problem they have began in the last five administrations, especially the destabilizing of the US employment market through outsourcing and NAFTA under Clinton. How do you guys expect them to fix decades worth of accumulated issues in six months? Never mind the fact that every country on earth is going through exactly the same problems and are in no position to help. The US is far better off at the moment than probably 90 percent of them, it's hardly Uganda or the Sudan. At least we don't have mass refugee influxes, bombs going off in the street and political roundups.