First, you spend two years telling people what they want to hear.
Second, you rush a stimulus program.
Third, the stimulus does not create jobs.
How can it create jobs? It is not a stimulus program. It is a "payback" to the people who got you elected, such as the unions!
Can you say "Mexican trucks" or "Buy America"?
Fourth, you say that you misread the economy: Biden: 'We Misread How Bad the Economy Was'
Prof. Mankiw compares the 2008 recession with previous recessions going back to The Great Depression. (Not the Great Depression)
As you can see from the chart above, the 2008 recession was not unusually worse than other economic cycles.
Obama and the Dems overreacted.
They told the "yes we can" screamers that we needed radical change to fix the worst recession since The Great Depression.
What happened? They spent US$ 787 billion that we don't have. They are now talking about a couple more trillions in "cap and trade" and health care.
How have people reacted?
Everybody is scared to death that the US will look like France, or high unemployment couple with huge taxes! Isn't Pres Sarkozy trying to change this over there? Why is BO following the failed European model! (Obama’s policies will bring the U.S. ‘European levels’ of unemployment)
Nobody is spending!
Nobody is hiring! (Let's Stop the Job-Killing Madness - Editorial, Investor's Business Daily)
Best of all, they are starting to blame BO! (June Jobs Tell a Bad Story -- and Obama's Policies Won't Make It Any Better By Lawrence Kudlow)
Did BO & Biden misread the economy?
Yes, they didn't say the truth.
What's the next? They have to deal with the consequences of huge deficits (4 times bigger than Bush), 10% unemployment and a private sector under siege.
Misread the economy?
No, they screwed it up!
