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View Full Version : Biden Blames High Unemployment on ‘This God-Awful Recession We’ve Inherited’



txradioguy
03-30-2012, 10:22 AM
(CNSNews.com) - At a campaign event in Iowa on Wednesday, Vice President Joe Biden blamed the continuing high level of unemployment in the United States on what he called “this God-awful recession we’ve inherited.”

According to the non-partisan National Bureau of Economic Research, the last recession began in December 2007 and ended in June 2009—just five months into President Barack Obama’s term in office.

In the 33 months since the recession ended, according to the NBER, the U.S. economy has been in a period of expansion. One of the current members of the NBER committee that determines when recessions begin and end is Christina Romer, who formerly served as chairperson of Obama’s Council of Economic Advisers.

(Less than two weeks before Obama took office in 2009, Romer published a report saying Obama's stimulus plan, if enacted, would keep unemployment under 8 percent. In fact, unemployment has never been under 8 percent since then--even though in February 2009 Congress did enact Obama's stimulus plan, which the Congressional Budget Office estimated at that time would cost $787 billion.)


http://cnsnews.com/news/article/biden-blames-high-unemployment-god-awful-recession-we-ve-inherited

NJCardFan
03-30-2012, 12:22 PM
BDS is alive and well. Funny how Reagan and Bush 43 both inherited recessions and got the country out of them in short order but after 3 years Obama had made things worse...then blames his predecessor. Typical.

Hawkgirl
03-30-2012, 12:31 PM
:biggrin-new: If I were unsuccessful at my job and I blamed it on the person I replaced, I would probably be fired.

Bailey
03-30-2012, 12:41 PM
Whats sad is his base believes the things Biden is spewing :(

Starbuck
03-30-2012, 12:47 PM
They did inherit a recession. Then they changed it into a sea change. We may never recover (Japan hasn't), and certainly will not without the right kind of strong leadership in Washington.