What did 'Gaffe-o-Matic Joe biden really mean when he said the administration 'misread ' the economy?
- WinonaGalLv 71 decade agoFavorite Answer
It means that they had no clue and continue to have no clue.
Sad, but true.
Their efforts have not helped, in fact I think they have hindered. To top it off, this administration is beginning to talk about another stimulus. So, if the first one didn't work, what makes them think a second one is a good idea?
Start with tax cuts people! Give the American public more cash in their pockets immediately and they will actually do things like spent it. It doesn't take a rocket scientist to figure that out. Are they too stubborn to adopt an idea the republicans suggested in the first place? Are they so stubborn that we'll drown in more debt while they want to spend more and take away even more of our spending money with cap and trade?
- Dont Tread On MeLv 51 decade ago
What he really meant was that the first stimulus was not enough to grow government to what they had hoped. So now they underestimated the economy in order to start the ball rolling for yet another stimulus.
Just a guess.
- Anonymous1 decade ago
It means that compromising with the Republicans and reducing the size of the stimulus package was a mistake. It means that Obama should've listened to Krugman and Stiglitz and made the first stimulus bigger than it was.
- skii_tymeLv 61 decade ago
He meant what he said. They, and most other economists, including the Bush economic team misread how bad this Bush recession really is. Seems simple enough.
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- 1 decade ago
Botox was trying to say "We have no idea what we are doing."
- Drew FLv 41 decade ago
It means he "misunderestimated", just like GWB.