Biden: "We Misread How Bad The Economy Was"

Krugman and other economists warned of this and that it would be difficult to initiate a second stimulus. That however, is what must be done. We need jobs and we need them NOW. It's utter bullshit to think that waiting around doing nothing is going to solve the problem more effectively and more quickly.

We did not come out of the Great Depression until the deficit spending for WWII. We're lucky this time around, we don't have to enter a world war, just create JOBS.

They misread it by a lot. A helluva lot.

Neo: do you really think the people would stand for a 2nd stimulus when the first one hasn't really done anything to create jobs? Please don't tell me how the 1st one saved a million jobs or more because I don't think anyone really believes that.

I believe it, the first stimulus saved jobs that is. Teaching and social service jobs, construction jobs, infrastructure jobs. But it wasn't nearly enough, we need a fundamental restructuring of our economic system. It has to be about supporting the workers instead of the bankers, the home owners instead of the insurance theives. Start with single payer health care, campaign reform-as in publicly financed only, media reform-as in prosecuting for intentional disinformation that leads to war and destruction, poverty and oppression. We need more democratic education systems, not more money going to corporate testing companies that ultimately destroy our schools. We need support for our children and families that struggle with poverty wages.
We need to retool our auto industry to make cars like the ones that were crushed after they proved to be highway ready and servicable using electric power. Retool for wind and solar and fast, like we retooled in 6 months for the 2nd world war machine.
We have the resources to do it, we need the spine. And more than anything, we need to get the greedy corporate leaders the hell out of our way. They are taking us all down with them.

Did someone say create war, where is Dumb Ya when you need him, since his so called war on terror along with his thievery and dishonesty got us into this mess maybe he will give some of the money he and his croonies stold back to bail America out of debt.

We are running out of jobs not only because the economy is low but because our population is growing dramatically and hiring jobs are filled up or slowly being made/discovered. I do believe that things will eventually get better, everything does over time. If it stay's this bad for A long time, there probably will be A revolution. No jobs to find, No money to pay the bills, No home to live in= homeless and now your home is A Forclosure home... This is rediculious

So what is Biden saying? That they should have printed even more money? Has anyone else noticed the price of a decent loaf of bread lately?

The more money, the more problems we see....

Its unbelievable what "these people" (Obama, Biden, Congress) are saying. Biden himself is claiming that this economic recession is very deep, and is being affected by many different factors. I have one question, why does the Obama administration continue to try and propose/pass legislation that would devistate an already battered economy.

Obama's "green bill" which really has very little to do with the environment and a lot to do with taxing. The bill would lead to the outsourcing of around 2 million jobs to India and China due to CO2 taxing. Our unemployment rate is almost at 10% already!!! This taxing on CO2 will also lead to the increase in energy rates by almost 90%!!! Not very stimulating for an economy in a very deep recession.

Obama's universal healthcare reform plan. The loss of competition, and tax hikes is definitely not the plan of action I think we should be making in this juncture in time or ever.

How can this administration expect me to believe anything they are saying when they are still SHOWING utter disregard for the way they are spending money.

the goverment usless every 1 got so dependent of the goverment that they dont know how to survive on the own

It's actually pretty easy to survive on your own...

STEAL EVERYTHING :P
I haven't paid for cigs, or food in the past 2 years.

Wait a min... I'm perfect for a job in the senate! lol

ohhh really, was that after we handed the banks our money.

FYI - if the banks were allowed to collapse, all the loans and mortgages owed back would cease and individuals would own their home, car etc, because the banks would cease to exist. However our government wouldn't want a bunch of debt free folks running around who didn't need their jobs desperately....

if it weren't for my love of vodka I'd be making molotovs...

These politiicians can lie like hell and get away with it. If tyhey are so stupid and blind then why are they sent to Washington with their headd up their kazoo. There were a hundred or more who had warned years ago what was in store for the nation and then there was the people who know that the Federal Reserve Bank is able to control and create any situation at will like a depression, and outright bankruptcy and anything else. It is a criminal Cabal and the world lets them run free and loose on the world creating wars and vast national debts so that make wealth by playing both sides and financing anything that produces vast profits for them. Their object is to control the world and put puppets in power to do their bidding. The people guiding this nation is David Rockefeller, Henry Kissinger etc. Nothing was misread. The plan is moving forward as planned.

No shit. That's what happens with all Keynesian thinking. The problem is they're not listening to people who predicted the crises way before it happened. Therefore, they will continue doing the wrong thing. Get out of the dollar for your investments, they're destroying it.

I'm just glad to know Joe can read at all.

Did anyone really suspect that a single stimulus package was going to magically fix the 40 foot hull breach in the American economy?

Trillions of dollars worth of assets were burned up in this crisis, it's a miracle we still have an economy.

I definitely don't like all the money being thrown out there but, contrary to libertarian fantasy, sitting around twiddling your thumbs doesn't do anything. Hypothetically speaking yes, if your economy isn't actually eviscerated, it will get back on its feet. Have fun waiting for three decades while that happens. Government spending doesn't fix the problem, but it helps considerably. It provides aid where previously it never would have existed. And in a modern setting where America's competitive edge has already been behind for a long time now, the last thing we need is to lose our economic power base.

Ooops. try again next time. fuckers.