6 July 2009
Welcome to Biden World
Posted by Joy Bischoff under: World Economy .
Joe Biden said yesterday that the administration and everyone else misread the economy. That simply is not true. The economists I have learned to trust (because they prove correct) have all disagreed with the cheerleaders in government. I hope this will help us learn to disregard the socialist propaganda machine in the future. I have not been focusing on the economy much the past few months because the powers that be have been telling us how much better things are. Not wanting to rain on the parade, and knowing that people desperately wanted to believe this, I waited until evidence shows that the direction we are going is not designed to turn around the crisis in the long run. The economics is just wrong.
Why do I even bother to discourage people by underscoring financial instability? Because we need to wake up to the fact that our economic troubles are the result of a dangerous socialist direction and we must return to our Constitutional roots before the economy can be stabilized. Battle fatigue is effecting many Americans. Our heads are sometimes bowed by discouragement and our hands hang down. We must do our best to press forward despite emotional exhaustion and spread the message, (ignoring the mocking from the left) that politics does effect the lives of every American. The goodness we have enjoyed in this nation was no accident, it was the result of precious freedoms. For there to ever be a return of the American way, we must reassert the principles that created the greatest country in the history of the world.
The video that can be seen on the article below shows a lot more than the printed portion. For one thing, Biden said basically that anyone would say they had been doing a great job handling the funds from the stimulus package. No wonder the reporter did not include that in the print. His reaction shows he does not believe that. This is a good example of the altered state of reality I like to call “Biden World”.
Vice President Biden also seemed to be setting the stage for a second stimulus package. That would make sense because their stimulus package was clearly designed as a political payback to all the organizations who put President Obama into office; for example, ACORN, and the Teacher’s Union. Little of the money has gone to the creation of new jobs. No wonder the unemployment figures have surpassed the administrations predictions. Thus, if they come to the point of passing a new stimulus package, they would probably then use the money to do what the original should have done. The problem is, this stops some of the bleeding but the internal hemorage only gets worse. It solves nothing and will get us to the inflationary tipping point all that much sooner. When that shoe drops, there will be hell to pay.
Biden: We ‘Misread the Economy’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.
“The truth is, there was a misreading of just how bad an economy we inherited,” said Biden, who is leading the administration’s effort to implement it’s $787 billion economic stimulus plan. . .
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