Biden: We 'Misread the Economy'

Pussy fuckers?... is there any other way?

Bear, you and your hypocritical moronic friends are pathetic.

The GOP haqs totally defaulted, they arent even in the fary. By two years of Bush denying that arecession was underway, he made it a complete trainwreck. Notice how we dont hear jack **** from Bush. Hes an embittered person for dcieveing the US AND GETTING CAUGHT.

But we should trust them absolutely to correctly read the situation with North Korea, healthcare, Iraq, Iran, Honduras, Afghanistan, terrorism, and everything else in the world?

Well of course we should... they haven't missed yet have they?

at least we can be thankful we don't have to listen to that redneck asshole any longer. Even cheney is farily quiet lately....rekindling my hope that there may yet be a merciful God.

Ok, if we can stop talking about Bush for a minute and focus on what Biden said and it's implications, that would be grand.

My thoughts:

The current stimulus was designed with a certain economic problem in mind. They've now admitted to misreading the situation. Shouldn't we take a new look at how we've decided to spend the stimulus money before we actually continue spending any more of it? From what I understand, they've only spent 5/10% of this money...I say freeze the rest until they've had a chance to re-evalutate the whole situations, what the likely scenerio is with and without the stimulus, determine if the vast amount already authorized will have any impact, and re-group?

I mean, shouldn't they?

If I'm going on a trip, and I only have enough money for 1 tank of gas, I'm limited to about 400 miles. If 40 miles into the trip I find out that my destination was actually 800 miles away, I'd regroup and figure out a new plan before I ran out of gas and ended up more screwed than I was when I started.

I hope our government doesn't plan on simply running out of gas.

I'm surprised that no one wants to intelligently talk about this.

Liberal Obamabots are programed to deflect and if possible,
destroy any subject that demonstrates a weakness with Obama
and Biden. They will not offer intelligent exchanges of information.

really

I'm all for that...and I certainly don't want to hear a peep about a second stimulus until the first is measured as success or failure. If success, we do nothing. If a failure, then any unspent dollars be recovered and used to fund the second stimulus (which will hopefully this time be better targeted and more wisely spent on actual near-term stimulative efforts). Net effect is no additional debt than that already stuffed down our throats.

Actually it is a refreshing change to have people in the white house to admit to being wrong on anything and so early to boot. Rather than waiting until a week (give or take) before a national credit crises before finally admitting to some economic problems. For years all we have heard is how good the fundamentals of the economy was and anything bad was just the product of a liberal media trying to tear down anything 'Bush'.

This says it all regarding the stimulus program. The Reps are just spoilers doing all they can to torpedo White House recovery efforts.


Right-Wing Recovery Myths

The Obama administration has been making an aggressive push to explain the realities of the $787 billion stimulus package, in the face of aggressive Republican misinformation. Vice President Biden, for example, traveled to Ohio yesterday, forcefully backing the recovery bill and asking for patience from the American public. "Remember, we're only 140 days into this deal. It's supposed to take 18 months," he said. Only $60 billion of $175 billion allocated to federal agencies so far has been paid out. Earlier this week, President Obama took time out of his trip to Moscow to discuss the recovery. "There's nothing that we would have done differently," he told ABC News. "We needed a stimulus and we needed a substantial stimulus." Republicans, who overwhelmingly voted against the recovery act in Congress and have offered no new ideas, are now trying to sow public dissatisfaction. In fact, the "plans" that Republicans have been offering are largely the same ones that put the country into the current economic mess. To create confusion, the GOP has had to resort to sloppy attacks and inaccurate myths. A look at some of what the right wing is spinning:

MYTH #1 -- ELECTORAL CONSIDERATIONS ARE DRIVING THE DISBURSEMENT OF FUNDS: This myth popped up most prominently in a USA Today story yesterday, with the headline, "Billions in aid go to areas that backed Obama in '08." According to this USA Today analysis, "Counties that supported Obama last year have reaped twice as much money per person from the administration's $787 billion economic stimulus package as those that voted for his Republican rival, Sen. John McCain." Naturally, the right wing immediately picked up this report as evidence of malevolent political manipulation by the Obama administration. Fox News host Stuart Varney devoted an entire segment to it, and Sean Hannity blasted it out to his nearly 30,000 Twitter followers. If they had read the whole story, however, the likes of Varney and Hannity would have discovered that there was nothing there. In fact, in the second paragraph of the piece, reporter Brad Heath wrote, "Much of it [the stimulus funds] has followed a well-worn path to places that regularly collect a bigger share of federal grants and contracts, guided by formulas that have been in place for decades and leave little room for manipulation." These formulas are largely based on where the need is greatest. Adam Hughes of the non-profit OMB Watch said that "it would be almost inconceivable for [the spending imbalance] to be the result of political tinkering."

MYTH #2 -- NO NEW JOBS HAVE BEEN CREATED: "How can we sit here and claim success when people are hurting out there?" House Minority Whip Eric Cantor compassionately complained on MSNBC last month. "We already know, as of now, at the rate that we lost jobs last month, over eight people a minute in America are losing their jobs. That's eight families without a paycheck." Similarly, in a New York Daily News op-ed he wrote, "To put it generously, the $787 billion bill has not been the 'temporary, targeted and timely' job-creating machine the public was sold." House Minority Leader John Boehner (R-OH) has called the recovery package nothing short of "generational theft," and declared, "When it comes to slow-moving government spending programs, it's clear that it doesn't create the jobs." These claims are false. In fact, the recovery act is creating jobs right in their districts. And it's important to remember that the purpose of the legislation was also to save American jobs. Even Boehner has had to admit these facts. In a little-noticed press release, the Minority Leader highlighted the Obama administration's recent order that the Ohio Department of Transportation (ODOT) redirect $57 million to shovel-ready projects. He said that he was "pleased" that the funds would "create much-needed jobs." A few weeks later, when Boehner was back to lashing out at the stimulus, the ODOT actually came out and criticized him. ODOT's spokesman called Boehner's inaccurate statements "disappointing" and pointed out that the agency had just approved "six more stimulus road projects, which will cost about $43 million." Cantor's hypocrisy has also been highlighted by the media, who have noted that he is a backer of using stimulus funds to bring high-speed rail to Virginia because it would create...jobs.

MYTH #3 -- THE RECOVERY IS A TOTAL FAILURE: The Republican National Committee released a new web ad yesterday, declaring the stimulus a "failure." But leading economists agree that it's too early to make any such determinations. The non-partisan Congressional Budget Office estimated that "about a quarter of the money would be spent by year's end, and that about 75 percent would flow by the end of 2010." In other words, as Center for American Progress Senior Economist Heather Boushey has explained, "the largest job gains from [stimulus] spending were projected to occur in the late fall through 2010." So far, the spending appears to be on track. The health care and education sectors, both of which received stimulus money, have shown net job gains since the recession began. Furthermore, Obama noted that infrastructure projects were always going to take "six months to eight months to get that money actually into the ground because that's the nature of big infrastructure projects."

-- americanprogressaction.org

....and what exactly can the Republicans 'spoil' or 'torpedo'?

Please provide a list of jobs "saved", along with undeniable proof of HOW they have been saved.

If so many jobs have been "saved", it should be easy to do.

Mysteryman,
Obviously the stimulus package has saved hundreds of millions of jobs....after all, I still have my job as do all but some 467,000 poor slobs last month.