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dmbfan
Joined: 09 Mar 2006
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 Posted: Mon Jun 15, 2009 3:40 am Post subject: Biden gets a word in. |
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http://thepage.time.com/2009/06/14/stimulus-apologies/
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Biden tells "Meet the Press" that "everyone guessed wrong" on the impact of the stimulus, economy was worse off than anyone thought.
Backs away from the estimate that the funds could create or save 3.5 million jobs, instead promises 600,000 by the end of the summer |
Gee....now....who would of guessed that? |
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RufusW
Joined: 14 Jun 2008
Location: Busan
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| Posted: Mon Jun 15, 2009 4:41 am Post subject: |
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| That's a terrible link. Didn't fancy linking to any video, or a transcript... or some analysis? |
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dmbfan
Joined: 09 Mar 2006
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| Posted: Tue Jun 16, 2009 1:31 am Post subject: |
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I guess you missed the link on the page, to this.......
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Key Quotes from Biden on the StimulusFrom NBC's "Meet the Press":
"No one realized how bad the economy was. The projections, in fact, turned out to be worse. But we took the mainstream model as to what we thought -- and everyone else thought -- the unemployment rate would be."
"Everyone guessed wrong at the time the estimate was made about what the state of the economy was at the moment this was passed."
"The bottom line is that jobs are being created that would not have been there before."
"Can I claim credit that all of that's due to the recovery package? No. But it clearly has had an impact." |
dmbfan |
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RufusW
Joined: 14 Jun 2008
Location: Busan
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| Posted: Tue Jun 16, 2009 2:53 am Post subject: |
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| Nope I saw it, a few quotes without context. |
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ManintheMiddle
Joined: 20 Oct 2008
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| Posted: Tue Jun 16, 2009 4:58 am Post subject: |
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Evidently the Obamarama steamroller didn't slow down long enough to take a deep breath and sobering look at the real economic prospects. Instead it was overly confident--even cocky--about its own abilities. It is an attitude borne of entitlement but more than that they clearly started to believe their own press, which was overwrought with exuberance and praise for the new President.
Maybe they'll come back down to earth before it's too late. And if this stimulus doesn't stimulate over the next six months, look for Obama's approval numbers to nosedive--and rightly so. |
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Tiger Beer
Joined: 07 Feb 2003
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| Posted: Wed Jun 17, 2009 1:12 am Post subject: |
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Very little to the link.
I'm surprised he said that the economy is worst than everyone thought. I thought everyone knew the economy sucked, hence all of the panics and huge bailouts back before Bush left. No real surprise there. |
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ChopChaeJoe
Joined: 05 Mar 2006
Location: Seoul
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| Posted: Sat Jun 20, 2009 7:34 am Post subject: |
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Still, eveyone I know in America still has a job. The jobs suck, but what else is new. America has just gotten too top-heavy and it's going to get worse.
Things would be different if Nader would have won. |
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bacasper
Joined: 26 Mar 2007
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| Posted: Sat Jun 20, 2009 7:42 am Post subject: |
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| ChopChaeJoe wrote: |
Still, eveyone I know in America still has a job. The jobs suck, but what else is new. America has just gotten too top-heavy and it's going to get worse.
Things would be different if Nader would have won. |
Or Ron Paul.
It is patently obvious that America needs more electoral choices. Is it going to happen?     |
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mises
Joined: 05 Nov 2007
Location: retired
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| Posted: Sat Jun 20, 2009 8:08 am Post subject: |
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| Tiger Beer wrote: |
Very little to the link.
I'm surprised he said that the economy is worst than everyone thought. I thought everyone knew the economy sucked, hence all of the panics and huge bailouts back before Bush left. No real surprise there. |
The people who make the forecasts that Biden would have been exposed to are disconnected entirely with the actual on the ground economy.
Governments in the West are full of innumerate lawyers who do not understand the very complex global economy. Obama and Biden both are JD's, and both studied political science in their undergrad. They have to rely on insiders for information on what is happening in the economy, and those insiders are typically Sith.
Rahm Emanuel studied dance in his undergrad and then communication for a masters. Kenneth Salazar = political science undergrad + JD. Thomas Vilsack = JD. Gary Locke = PS undergrad + JD. Hilda Solis = PS undergrad + MPA. etc etc.
The council of economic advisers is where Obama and Biden get economic info:
Christina Romer, Austan Goolsbee, Cecilia Rouse, Michael Greenstone are all PhD's in fields related to economics. Meaning they're true-blue Keynesians. But at least they're not corrupted by Goldman's.
But the big dog is the National Economic Council, who has Larry Summers at the head. Here is the king Sith, advising the JD's how to run the economy.
http://www.nytimes.com/2009/06/08/us/politics/08team.html
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Obama�s Economic Circle Keeps Tensions High
WASHINGTON � President Obama was getting his daily economic briefing one recent morning when a fly distracted him. The president swatted and missed, just as the pest buzzed near the shoes of Lawrence H. Summers, the chief White House economic adviser. �Couldn�t you aim a little higher?� deadpanned Christina D. Romer, the chairwoman of the Council of Economic Advisers.
Mrs. Romer was joking, she said in an interview, adding, �There are only a few times that I felt like smacking Larry.� Yet few laughed in the president�s presence.
If the Oval Office incident was meant as a lighthearted moment, it also exposed the underlying tensions that have gripped Mr. Obama�s economic advisers as they have struggled with the gravest financial crisis since the Depression, according to several dozen interviews with administration officials and others familiar with the internal debates.
By all accounts, much of the tension derives from the president�s choice of the brilliant but sometimes supercilious Mr. Summers to be the director of the National Economic Council, making him the policy impresario of the team. The widespread assumption, from Washington to Wall Street, was that the job would be Mr. Summers�s way station until the president could name him chairman of the Federal Reserve when Ben S. Bernanke�s term expires early next year.
But Mr. Bernanke�s aggressive response to the crisis has so improved his reputation that people close to Mr. Obama increasingly suggest the president could well reappoint him in the interests of financial stability � just as Presidents Ronald Reagan and Bill Clinton retained Fed chiefs who had been picked by predecessors of the other party.
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Plus Timmy and Benny and BidenObama are recieving highly suspect information. And they lack the academic and vocational background to independently understand the economy. |
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The Hammer
Joined: 18 Jan 2003
Location: Ullungdo 37.5 N, 130.9 E, altitude : 223 m
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| Posted: Thu Jun 25, 2009 3:56 pm Post subject: |
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| If Bush could have had one more term he would have fixed the economy for sure. Oh how we miss the good ole days. |
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