Big admission from Vice President Joe Biden today.
"The truth is, we and everyone else misread the economy,"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.
Actually, Joe, old boy, only you and your master, the Obama and all of his economist dimwits got it wrong. Classic liberal spin "everyone else" is code for we want to push the blame off on our predecessor and his team. And "The truth is," you inherited a recovering economy and then drove it into the ground. You and the Obama can't blame this on anyone but yourselves. When you destroy basic industries like the auto industry and threaten every other big business and spend money like it is going out of style - what do you get - the current economic mess.
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