Biden: 'We misread how bad the economy was', page 1
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ATS Members have flagged this thread 6 times
Topic started on 5-7-2009 @ 01:31 PM by Mdv2

Biden: 'We misread how bad the economy was'


rawstory.com
The Obama administration warned earlier this year that unemployment would climb to 8% if the recovery plan was not passed in Congress. New reports now show a 9.5% unemployment rate in June.

ABC’s George Stephanopoulos asked Vice President Joe Biden to explain why the Obama administration prediction was wrong.

“The truth is, we and everyone else misread the economy,” confessed Biden.
(visit the link for the full news article)


reply posted on 5-7-2009 @ 02:31 PM by ProtoplasmicTraveler
Even assuming that they misread how bad the economy was, as a way to pass the buck and play the blame game...

That calls into play then two very real questions...

(1) If you didn't know how bad it was how on earth do you know the urgent steps you insisted had to be taken at great cost to the tax payers and the citizens were the appropriate or correct ones?

(2) How come nothing that has been done has made the economy any better?

The reality is not one real job that produces anything of value has been created by all these trillions of dollars of bailouts.

One could argue some jobs have been saved at an exceedingly high cost.

The bailouts and all there tacked on associated pork creates government jobs, but government jobs do not strengthen or add to the economy but in fact drain the economy while the government is added to and goes stronger.

Things like fixing more roads and public work projects create some 'temporary' jobs, but create no 'future revenue' in the process.

The Administration and all the politicians are simply lying on behalf of the Federal Reserve, the Banksters and the Powers that Be.

Fixing the economy would have been simple had they simply made all that money available as low interest small business loans to qualified entrepenuers who could create 'real' jobs, and 'real' products, long term.

The bailouts have been nothing but the last act of a desperate government looting the treasury for the sake of the rich at the expense of the poor.

I say it's just about time to start oiling up and polishing up the guillotine...

I suspect soon in this economy it will be the only thing 'working'!


reply posted on 5-7-2009 @ 02:49 PM by mikerussellus
reply to post by Mdv2



The thing of it is, the economy is doing exactly what they wanted it to do. Unemployment is exactly where they want it to be.

These people aren't stupid.

Just look at the amount of people (2 million plus) that are on unemployment versus last year at this time.
Obama is raising his army. He is paying them with our tax dollars. The more that he has to take care of, the happier he is. Watch unemployment rise to over 10% in the next quarter.
He doesn't have to lift a finger to raise his army, because the enlistees will be lining up to come to him.

-I need a beer-



[edit on 5-7-2009 by mikerussellus]



reply posted on 5-7-2009 @ 02:49 PM by Jakes51
Oh Joe, how foolish you and your brethren must feel now. Misread the economy? Maybe Joe should have another cup of Joe, because if he misread how bad the economy is doing; he is really living in a bubble. Maybe he and his minions need to step down from their ivory towers and walk among the rest of us?

Again, I will see as I have before, stop spending so much money!!! Lets take the budget back to the drawing board immediately! Time to cut waste and I mean that! No new stimulus packages, and that means if a large corporation is on the ropes; let it fail! Put Obamacare back in the closet and forget about it for the time being! Lets cut the salaries of congress, the senate, and the President's cabinet! By cutting salaries and making their quality of life as difficult as everyone else they will get off their rear-ends and make the proper prudent adjustments to fix the economy! If significant progress is achieved; then by all means give them a raise. Lets scale back the loans from China while we are at it, because they are going to bleed the US dry! Any deals made by the Fed should be under congressional oversight until further notice! That means legislatures get on the floor and form a bill to get the Fed under congressional oversight. If Ben wants to he and haw about it, so be it, seize the Federal Reserve!

Those are just some ideas and I know many of you have some of you own. However, if President Obama advocates "change," then what I mentioned earlier is the change that is needed. Essentially, business as usual in DC is not working and the economy is worsening by the day. Drastic adjustments need to be made and a conservative fiscal policy is needed or we are headed for oblivion. The very future and prosperity of the country is on life support.


[edit on 5-7-2009 by Jakes51]


reply posted on 5-7-2009 @ 02:59 PM by Mdv2
Originally posted by mikerussellus
reply to
post by Mdv2



The thing of it is, the economy is doing exactly what they wanted it to do. Unemployment is exactly where they want it to be.

These people aren't stupid.

Just look at the amount of people (2 million plus) that are on unemployment versus last year at this time.
Obama is raising his army. He is paying them with our tax dollars. The more that he has to take care of, the happier he is. Watch unemployment rise to over 10% in the next quarter.
He doesn't have to lift a finger to raise his army, because the enlistees will be lining up to come to him.

-I need a beer-



[edit on 5-7-2009 by mikerussellus]


There's no doubt on my mind that this crisis has been directed from the very beginning. Bilderberg is involved, so is the Fed and the elite group of people we never hear of. Sooner or later this Deficit bubble had to burst. It seems they find the moment right for it to happen. The masses will suffer and revolts will start to occur (for which they have implemented legislation and various other policies to tighten the control over people) - imagine states like Texas declaring independence - they ain't gonna let that happen, but attempts will be there.

Eventually, the economy can be build from scratch and a new economical system be implemented - the current system is rotten to the bone, close to collapsing and they have been working behind closed doors for many decades constructing a new model to keep control of the world economy and hence, world power.

We will suffer, but emerging powers such as China will suffer more. They lack the resources to feed the hungry mouths as imports will start to decline. The hope for a more prosperous future will be taken away and huge revolts will start to appear in mainland China.

I've often said that I believe this crisis will result in more power for Western elites while destroying potential enemies.


reply posted on 5-7-2009 @ 03:08 PM by Maxmars
reply to post by Jakes51



Jake, you raise an interesting notion. Could this be all a part of some social-engineering scheme to create a class of citizen who will be disposed to 'be' whatever it the plan calls for them to 'be?' Like a hungry mob, a semi-organized body of people to be 'represented' by them a certain way?

Perhaps 'special' legislation will be needed? Perhaps special 'programs' developed.... how depressing.


reply posted on 5-7-2009 @ 03:18 PM by Jakes51
reply to post by Maxmars



I am really ticked off at the naivety of these buffoons! Maybe they are having a social engineering experiment as you postulate? To what end will this experiment lead to? Possible civil disruptions, class warfare, insurrection, and more forms of social disruption? If they have sworn to defend the Constitution, as they do before taking office; would purposely causing civil strife and economic catastrophe be treason in its' very essence? If they are intent on causing disruption in how the country is run; then the government leaders would be insurgents and insurrectionists?

Sometimes I shake my head in disbelief that others have not seen what we are seeing with the likes of our merry monarch and nobles in Washington and their hair-brain ideas that are in the realm of lunacy. All I can see is that they better stop spending money and make some drastic cuts to the budget or hell is in our future.

[edit on 5-7-2009 by Jakes51]


reply posted on 5-7-2009 @ 03:19 PM by mikerussellus
reply to post by Maxmars



Well, it's either that or they really are THAT stupid.

C'mon, if the good folks at ATS could see through it several months ago do you honestly think these ivory tower elitists couldn't have imagined it?

They have always been about misdirection with this administration. Focus on the rightt so you don't see the left. . .

And unfortunately, we the good little people in our happy little lives are playing it perfectly.

-I'm gonna barf-


reply posted on 5-7-2009 @ 04:38 PM by pyrytyes
reply to post by Maxmars



It is in the design of Michelle's garden...grow more government. A green government, as Spain did, and found that for every job that "green" produced, two others were lost.

And we "ain't seen nuttin', yet"...


reply posted on 5-7-2009 @ 05:04 PM by DeadFlagBlues
reply to post by jerico65



Honestly, I think that mentality has a lot to do with it. Nothing is "DOH!" with these people. They know exactly what they're doing, and as we saw with Bush Jr almost anything goes by the wayside as long as it's pinned on absentmindedness, when in all actuality, these people are the most calculated on earth.


reply posted on 5-7-2009 @ 05:39 PM by open_eyeballs
reply to post by Mdv2



Wow, thats the best they could come up with?

After all the doom talk out of the silly administartion before it, and all the doom talk when the dems took over, you woulda thunk they over estimated the downturn.

just a very lame excuse to cover up even lamer policies.
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