Monday, June 15, 2009

Biden "guesses" wrong again

"Vice President Biden said Sunday that "everyone guessed wrong" on the impact of the economic stimulus, but he defended the administration's spending designed to combat rising joblessness. Biden said inaccuracies in unemployment predictions shouldn't undercut the White House's support of the $787 billion economic revival plan that has not met the expectations of President Obama's team. . . . Just 10 days before taking office, Obama's top economic advisers released a report predicting unemployment would remain at 8% of below through this year if an economic stimulus plan won congressional approval. Yet the Bureau of Labor Statistics reports that unemployment in May rose to 9.4%."

They "guessed"? They spent almost one trillion dollars on a "guess"?

Biden implies the stimulus package was not based upon precise economic statistics and modeling, but upon "guesses" designed for raw partisan appeal.

One thing we don't need to "guess" about - - Biden will not be on the ticket in 2012.

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