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“The truth is, we and everyone else misread the economy,” confessed Biden.
Raw Story » Biden: ‘We misread how bad the economy was’ (http://rawstory.com/08/news/2009/07/05/biden-we-misread-how-bad-the-economy-was/ - broken link)
What's so hard to read?! We are spending more than we are making; who thinks it's a good idea to run a country like that!?
Seriously, this is a BASIC, don't spend more than you make, and you won't be in debt.
Our Gov, REALLY needs a crash course in this lesson.
"Obama is correctly characterizing the differences between his projections and the CBO’s figures. But it’s not entirely accurate to say that the administration's assumptions are consistent with the Blue Chip Economic Indicators, which is a survey of forecasts from 50 private economists. In fact, the most recent Blue Chip forecast is far more pessimistic than either CBO's or the administration's.'
Nouriel Roubini told us that the stimulus wasn't big enough!
Keep in mind the wingnuts wanted no stimulus at all other than tax cuts!
"The credit crunch is just massive. One thing that's needed is much more aggressive monetary easing. The second dimension is that you need much more fiscal stimulus -- in the countries that can afford it -- that is front-loaded. The U.S. [stimulus package] is $800 billion, but only $200 billion is front-loaded. Of that $200 billion [in stimulus] this year, half of it is tax cuts. That's going to be a waste of money, because people are not going to spend it."
What's so hard to read?! We are spending more than we are making; who thinks it's a good idea to run a country like that!?
Seriously, this is a BASIC, don't spend more than you make, and you won't be in debt.
Our Gov, REALLY needs a crash course in this lesson.
What gets me is that you have no earthly clue what you are talking about. We are talking about getting the economy out of a slump and you are talking about balancing the budget!!!! LOL
ANY ECONOMIST whether they be Keynesian and Chicago School will tell you balancing the budget is not helpful during a downturn.!!!!
You do realize that but for the stimulus money and bailouts the capitalist system would have likely collapsed right?
No, I don't. How can you say that? You do realize that the bulk of the stimulus will be spent in 2010-2011 and beyond? You do know that the % of stimulus money that has been distributed so far is a fraction of the total?
Given those facts, why hasn't the capitalistic system crashed by now?
“The truth is, we and everyone else misread the economy,” confessed Biden
Biden is Oboy's stooge who will be accepted as the breaker of the bad news. Now for a change in course, lots of failure and business as usual.
And all the Donks are gonna just go along with it. I can hear them now, 'Oh man, yeah.... Biden broke the news over the holiday weekend while everyone was getting over a hangover, no one really paying attention. Oh man, what does the Oboy have to do now to fix this broken up thing the caballeros left us from last year.'
And the O gets off the hook.
Sanrene, think any of these Donks know how much and where any of that stimulus money has been spent? Other than funding unions, of course.
Nouriel Roubini told us that the stimulus wasn't big enough!
Keep in mind the wingnuts wanted no stimulus at all other than tax cuts!
"The credit crunch is just massive. One thing that's needed is much more aggressive monetary easing. The second dimension is that you need much more fiscal stimulus -- in the countries that can afford it -- that is front-loaded. The U.S. [stimulus package] is $800 billion, but only $200 billion is front-loaded. Of that $200 billion [in stimulus] this year, half of it is tax cuts. That's going to be a waste of money, because people are not going to spend it."
Read your own quote he said it is being spent too slowly.
Don't be so selective in quoting him.
"Thus, soon enough, if we fiscalize all of these losses the U.S. may fast lose its AAA sovereign debt rating and eventually end up like an insolvent banana republic. It is thus time to put a stop to the coming “mother of all bailouts” starting with a firm stop to the fiscal rescue of Fannie and Freddie, institutions that have behaved for the last few years like the “mother of all leveraged hedge funds” with their reckless leverage and reckless financial activities."
Nice that they can now plead ignorance after how many trillion? I bet they didn't misjudge saving their pensions invested with AIG.
I am no mathematician and I knew they were leading us down the road of NO return. Too bad the MAJORITY of the country couldn't see past here is what I'm going to get. Well guess what, you really get 155K in debt-ENJOY!
Read your own quote he said it is being spent too slowly.
Don't be so selective in quoting him.
"Thus, soon enough, if we fiscalize all of these losses the U.S. may fast lose its AAA sovereign debt rating and eventually end up like an insolvent banana republic. It is thus time to put a stop to the coming “mother of all bailouts” starting with a firm stop to the fiscal rescue of Fannie and Freddie, institutions that have behaved for the last few years like the “mother of all leveraged hedge funds” with their reckless leverage and reckless financial activities."
As I said! Too many tax cuts to placate you Moderator cut: not necessary right wingers.
He said it wasn't big enough and it wasn't front end loaded enough!
In both cases to placate the stupid right wing in this Country!
When will spineless Dems learn??? You don't placate those who wish to see you and the Country fail!
Last edited by katzenfreund; 07-05-2009 at 10:00 PM..
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