Obamanomics: VP Joe Biden Admits They (Obama) Misread the Economy & Pork Stimulus Bill was Never Going to Create Jobs this Year


Remember when Joe Biden said, mark my words, it would not be six months before the world tests Barack Obama and that it’s not gonna be apparent that we’re right. Who knew that Biden was talking about Obama handling the economy as well?  Biden admits that the Obama Administration misread the tea leaves. To the contrary Joe, not everyone misread the economy, many believed that the stimulus package was not more than pork in sheeps clothing.


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.

 These people are still more worried about this being not their responsibility than fixing the problem.

Vice President Joe Biden stated on the Sunday talk show ABC’s This Week” with George Stephanopoulos that the Obama Administration misread how bad the economy was

“We misread how bad the economy was, but we are now only about 120 days into the recovery package,” Biden added. More jobs will be created in coming months, he said.

Biden noted that the $787 billion economic stimulus package was set up to spend the money over 18 months. Major programs will take effect in September, including $7.5 billion for broadband Internet service, plus new money for high-speed rail and the nation’s electrical grid, he said.

Biden said it’s premature to say whether the country will need a second stimulus package.

As stated at The Strata-Sphere, Biden all but admitted that the $787 billion liberal pork stimulus package passed in February was never mean to create any jobs until the Fall and well into next year. So all the jobs that Obama and his minions promised to create immediately was really bunk. Is it any wonder that unemployment continues to rise. This stimulus package was portrayed by Obama to create jobs now, not 18 months later.

Later Biden promised job creation is coming now that the needed contracts are finally being put in place (t- 3.50 minutes). This is the third 3rd admission that there was no way the stimulus bill could create jobs any earlier than September, and not in any great number until after that.

There you have it – the administration’s mea culpa. They knew damn well the government bureaucracy was too sluggish to get the money out into the economy quickly. They had to rush the bill before the media exposed their little white lies.

Exit Question: What else will this Administration misread? Also, is not this the same people who criticized the Bush Administration for getting the help to Hurricane Katrina victims too slow? What are they waiting for, unemployment to reach 11%?

UPDATE I: Paul Krugman can defend the Obama White House all he wants with charts, pie graphs and analysis. The fact of the matter is that Obama and his minions openly went out to the American people and stated that this pork stimulus plan would create new jobs now. Not in the Fall and not in 2010, but now. Common sense would say to any independently thinking person that a $787 billion stimulus was rushes into law to help the economy now. It would have to address the recession problem sooner rather than later. However, this was not a stimulus package, it was a pork give away.

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  • Comments

    26 Responses to “Obamanomics: VP Joe Biden Admits They (Obama) Misread the Economy & Pork Stimulus Bill was Never Going to Create Jobs this Year”

    1. Obamanomics: VP Joe Biden Admits They (Obama) Misread the Economy … | Youth Political Blog on July 5th, 2009 10:20 pm

      [...] Excerpt from: Obamanomics: VP Joe Biden Admits They (Obama) Misread the Economy … [...]

    2. USS Yorktown on July 5th, 2009 10:27 pm

      How clueless are they? It is obvious the unemployment rate will keep climbing at this rate.

    3. rightknight on July 6th, 2009 12:10 am

      Old Joe was not chosen for his superior intellect.
      He is simply another talentless actor in this awesome
      Political Play that could be viewed as an award winning
      Comedy if it weren’t in fact such a terrible Tragedy!

      Please, someone get the hook!

    4. Max von Feuer on July 6th, 2009 2:42 am

      We needed to get this right on day one. Barack Obama has made the economy worse. This is what happens when you put a BS artists into office.

    5. taffy on July 6th, 2009 3:14 am

      i am pissed, you should be to.

    6. SUPER DAVE on July 6th, 2009 7:10 am

      over 50,000 attend Dallas Tea Party at Southfork Ranch on July 4th

    7. Mike on July 6th, 2009 7:16 am

      Lesson Learned: Government spending does not capitalism make. Pretty darn sure history has already proved that!

      I wish I could have been at Southfork…I love that place!

    8. Brenda in Virginia on July 6th, 2009 9:25 am

      No amount of taking away our future earnings to pay for those who’ve mismanaged their money will ever do any good. A 10 yr old who can add and subtract could have explained THAT to Obama!!!

    9. ANewGirl on July 6th, 2009 10:27 am

      How many zeros in a billion?
      This is too true to be funny.

      The next time you hear a politician use the
      word ‘billion’ in a casual manner, think about
      whether you want the ‘politicians’ spending
      YOUR tax money.

      A billion is a difficult number to comprehend,
      but one advertising agency did a good job of
      putting that figure into some perspective in
      one of it’s releases.

      A billion seconds ago it was 1959.

      A billion minutes ago Jesus was alive.

      A billion hours ago our ancestors were living in the Stone Age.

      A billion days ago no-one walked on the earth.

      A billion dollars ago was only 8 hours and 20 minutes, at the rate our government is spending it.

      While this thought is still fresh in our brain…
      let’s take a look at New Orleans …
      It’s amazing what you can learn with some simple division.

      Louisiana Senator,
      Mary Landrieu (D)
      is presently asking Congress for
      to rebuild New Orleans . Interesting number…
      what does it mean?

      Well… if you are one of the 484,674 residents of New Orleans
      (every man, woman, and child)
      you each get $516,528.

      Or… if you have one of the 188,251 homes in
      New Orleans , your home gets $1,329,787.

      Or… if you are a family of four…
      your family gets $2,066,012.

      Washington , D. C

      Are all your calculators broken??

      Accounts Receivable Tax
      Building Permit Tax
      CDL License Tax
      Cigarette Tax
      Corporate Income Tax
      Dog License Tax
      Federal Income Tax Federal Unemployment Tax (FUTA)
      Fishing License Tax
      Food License Tax
      Fuel Permit Tax
      Gasoline Tax
      Hunting License Tax
      Inheritance Tax
      Inventory Tax
      IRS Interest Charges (tax on top of tax)
      IRS Penalties (tax on top of tax)
      Liquor Tax
      Luxury Tax
      Marriage License Tax
      Medicare Tax
      Property Tax
      Real Estate Tax
      Service charge taxes
      Social Security Tax
      Road Usage Tax (Truckers)
      Sales Taxes
      Recreational Vehicle Tax
      School Tax
      State Income Tax
      State Unemployment Tax (SUTA)
      Telephone Federal Excise Tax
      Telephone Federal Universal Service Fee Tax
      Telephone Fe dermal, State and Local Surcharge Tax
      Telephone Minimum Usage Surcharge Tax
      Telephone Recurring and Non-recurring Charges Tax
      Telephone State and Local Tax
      Telephone Usage Charge Tax
      Utility Tax
      Vehicle License Registration Tax
      Vehicle Sales Tax
      Watercraft Registration Tax
      Well Permit Tax
      Workers Compensation Tax

      STILL THINK THIS IS FUNNY? (We don’t!)

      Not one of these taxes existed 100 years ago…
      and our nation was the most prosperous in the world.

      We had absolutely no national debt…
      We had the largest middle class in the world…
      and Mom stayed home to raise the kids.

      What happened?
      Can you spell ‘politicians!’

      And I still have to
      press ’1′
      for English.

      I hope this goes around the
      at least 100 times

      What the heck happened ?????

    10. Steve Holloway on July 6th, 2009 12:34 pm

      #9 ANewGirl

      GREAT POST…….And O wants more of our money to spend with the cap and trade and whatever else they can get congress to pass.

      Also don’t forget the new global tax to the UN for 785 BILLON DOLLARS. Which did not go to congress. Its a done deal.

      The end of the USA as we knew it. That’s why the election was so important. We may not make it to the next one.

    11. Michelle Smith on July 6th, 2009 12:35 pm

      @#9 Depressing isn’t it?

    12. St Stephen on July 6th, 2009 1:35 pm

      #9 ANewGirl
      …and apparently it is still not enough for the money pit in D.C.

    13. ANewGirl on July 6th, 2009 7:32 pm

      #’s—-> 10 thru 12—Yes, yes and yes!

      I can’t take credit for that post though—I rec’d it in e-mail today & thought I’d share.

    14. yoyo muffintop on July 6th, 2009 8:15 pm

      #9 – That’s funny…only in that you’d believe it. This email has been going around since 2004 or so – but I see Katrina added in. Did ya get that $5000 from Bill Gates yet? Lol.

      It’s hard to get past these idiot emails when the very first item is 100% false: “A billion seconds ago it was 1959.”

      Huh???? no it wasn’t – it’s 1977

      First thing, first falsehood. Oh, and b,c,d and ‘e’ are false as well.

      - “We had absolutely no national debt…” – Uh…it was almost $10 Billion

      - We had the largest middle class in the world…(uh…not even close)

      - There is no federal inheritance tax.

      Cigarette Tax
      Liquor Tax
      Property Tax
      Real Estate Tax
      School Tax
      All those taxes, in one form or another, were around 100 years ago.

      And taxes on things that did no exist 100 years ago were obviously not around 100 years ago.

      But I’m sure what you and the republicans want to get back to is:
      - A hundred years ago we had our own Apartheid system, called Jim Crow.
      - We denied the right to vote to more than half the adult population

      Did you know:
      - 100 years ago we didn’t keep one of the world’s largest standing armies, nor devote trillions to exotic weapons systems which might never be used, nor spent a trillion or two in an unnecessary war in the Middle East.
      - 100 years ago nobody inspected meat, drugs, or anything else that you put in your body, and life-expectancy has improved 40% since then.
      - 100 years ago there were almost no paved roads. How do you think those are paid for?
      - 100 years ago there was no FBI and no CIA. Perhaps you’d like to do without them?
      - 100 years ago there was no Social Security and 50% of elderly Americans lived in poverty. Yes, so much better 100yrs ago.
      - 100 years ago much of the country didn’t have a paid police force.
      - 100 years ago most of the country’s fire departments were volunteer rather than professional.

      It could go on and on and on…..

      And what the heck does “Mom stayed home to raise the kids” have to do with anything?
      Guess you think times were better when women couldn’t do anything other than stay home barefoot and pregnant, cooking and cleaning for men.

      Give me a f-ing break NewGirl.

      NewGirl – why don’[t you move to some far off 3rd world country where you don’t have to pay any of these “horrible” taxes and can enjoy a wonderful 19th century lifestyle.
      I’m sure it’ll suit you and others here quite well.

      FYI – the government just levied The Moron Tax on you.

    15. Brenda in Virginia on July 6th, 2009 10:43 pm

      He yoyo…New Girl, Steve, myself, and the rest of us who agree with her post won’t need to move to a 3rd world country, Obama is making sure we’ll be in one right here in the U.S.A.

      I can see your mom didn’t do much “raising” where you are concerned…and it’s truly sad you look down upon the most wonderful a woman can do which is raise children and care for the family she loves.

      You are a reminder to us of the enemy within our boarders of which there are way too many.

    16. ANewGirl on July 6th, 2009 11:18 pm

      Regarding: YoYo—-can’t respond to him since he is still on ignore (as in IGNORAMUS) mode.

      Glad to see his shorts are all in a knot over an email someone else originated which was merely posted on a public blog. Such a Tool that Troll is, and yes- I am calling him names but he gets off on it. LMAO

    17. Scott on July 7th, 2009 6:33 am

      Another “STIMULUS” coming too…..


    18. Jack Hammer on July 7th, 2009 8:49 am

      Thanks YoYo. They read your post and still don’t get it.

    19. SUPER DAVE on July 7th, 2009 11:41 am

      it’s hard to understand ignorance at such a high level. but it’s easy to understand that the demmies are ashamed of their one and only boy.
      democrats, liberals, conservatives, republicans all attend the tea party at Southfork Ranch in Dallas July 4th.
      He won’t make a full term before he is impeached along with his criminal posse.

    20. Scott on July 7th, 2009 11:43 am

      any child of 5th grade education can get that moron yoyo’s post that has nothing to do with nothing as usual. As usual, like most liberals, pussy foot and dance around the EXACT issues only to bring up things that have no relevance; only trying to confuse….

      yoyo – we all get it, you live in that dump called California, its’ no wonder you support federal policies that mirror California’s….people leaving in drones; state giving IOU’s (HAHHAHAHAHAHAHA); prop 8 voted AGAINST (LOL)…. let me guess…you are a beaner that snuck across the border and now thinks the government owes you something…dead on! IF NOT, I doubt you’d give up your job to give it someone who is jobless….highly doubt it, but that’s what liberals want you to do except in the case when they have to do it….

    21. Maggie on July 7th, 2009 4:41 pm

      Doesn’t matter what has been going around since 2004. If you don’t think govt. spending is out of control, you must be living in the twilight zone.

      11.4 trillion dollars in debt.? give us a break. When one is in financial debt.. one does not spend like a drunken sailor to get out of debt.

    22. Dolf on July 8th, 2009 9:30 am

      Maggie, that is what the Bush admin has been doing (before the meltdown)

    23. yoyo muffintop on July 8th, 2009 2:41 pm

      #20 – what’s a “beaner”? You mean the racist term for someone who is mexican?

      Typical racist.

      you so sure I live in CA? Lol.

    24. Dolf on July 9th, 2009 9:41 am

      Isn’t Cali run by an republican?

    25. Same Old Tired Blame Game from Obama: Support for Obamacare is Crumbling … Moderates and Democrats Running from Socialized Healthcare | Scared Monkeys on July 18th, 2009 11:19 pm

      [...] If one, or The One, ever pressures a sale, no matter what it is, the answer is to never buy it. Think the Obama Administration is not misreading Healthcare as they did they economy? [...]

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