Biden's Assesment of Obama's Economic Team

Today on Meet The Press, Joe Biden remarked that "everyone guessed wrong" when it came to the impact of the Stimulus Package on the economy (See Full Story). Oh really, Joe?

I seem to remember that all but 3 Republicans in the Senate voted against that package. And, one of those three has now declared himself a Democrat and stopped his silly charade as a Republican.

In this blog --- over and over, again -- I had said this package was a waste of money and wouldn't get the economy back on its feet.

On January 9th -- 10 days before Obama was to get in office -- I wrote this:

His "put people to work" effort is narrowly targeted in heavy construction for infrastructure, green jobs, and tax rebates (See Full Text Of His Speech). In the area of infrastructure, anyone who has had dealings in this area knows quite well that materials and equipment are the highest cost components in any project of this type. You actually get less labor bang-for-the-buck than in, say, home building. Also, the concept of building green jobs is similarly limited in its scope. Once again, those industries are less labor intensive relative to the cost of materials. The cost of creating a solar array is primarily buried in the expensive cost of those cells and not in the labor to build or install them. A lot of money will be spent without getting a lot of people back to work. Every program in Obama's plan goes on like that. Big dollars - limited labor.

Then, on January 29, I wrote this segment from that day's blog entry:

Actually, by not voting for this lard-laden stimulus plan, the Republicans have only a minimal risk; and, the ultimate rewards could be substantial. Rewards like regaining seats in Congress or regaining the White House. If, what the Democrats are doing doesn't do anything but further deepen the recession, the Republicans have gained a lot more then they would have lost. Any rational person can clearly see that this stimulus package is a loser. It might create a few politically-targeted jobs; but, it isn't going to bailout this massive and wide-ranging economy of ours. And, based on recent polls, the American people are seeing through this package as well. According to the latest Gallup poll only a slim majority of America (52%) has any faith in this stimulus package and that number is waning by the day as people start to see what is in it(See Full Story). If it weren't for 73 percent of the Democrats, voting with their ideological hearts and not logical minds, this bill would have very little support.

On February 15th, I made this comment within that day's blog:

The trick of any stimulus package is to get the "general" population to buy stuff. It should make them want to buy that extra cup of morning coffee, or newspaper, or a breakfast, lunch, or dinner, or a TV set, or whatever. Stimulus doesn't simply mean handing out a few jobs under some very specific government contracts. That's why this whole Stimulus Package is so misplaced.

This comment by Biden is so typically Biden or, simply, so typically from the airhead that he really is. A lot of people could see that the Obama Stimulus Package was a non-starter. That why Democrats, shortly after it was passed, were already talking about another, equally-as-large, stimulus package.

Thankfully, the American people can see through this crap and are starting to balk over anymore spending; whether it be for another stimulus plan; nationalized healthcare; or the "Cap and Trade" climate change savior. I think Obama and all the Democrats are now on thin ice over the amount of the current "Stimulus" package and how little impact it has had on our economy.

By Biden saying "everyone guessed wrong" is finally admitting that Obama's economic team is just rolling the dice and have no idea of what they are doing. Sometimes Joe's habit of gaffing is just him telling the truth!