The unabated destruction of the Middle Class continues in California. Middle Class workers are losing it all.
Joseph Biden, Chair of the White House’s Middle Class Task Force, says, “We Misread How Bad the Economy Was”, according to the Huffington Post, LINK
No s!ht, Sherlock! And California, ESPECIALLY, doesn’t get it.
Homework for ALL Teachers and ALL Classifieds: Submit your ideas to Joseph Biden Directly. If your public job is being threatened, the least you can do is go register your concerns and comments at the Middle Class Task Force site LINK The SAUSD is destroying your community and lifestyle. SAUSD policies and practices are a direct threat to middle class workers and working class families who have long supported the school district. The VERY LEAST you should do is send VP Biden a link to this blog and tell him to read how lives and careers are being thrown away by the reckless management that runs the show at SAUSD. Maybe throw in a few bad words about how your unions have colluded with the school district to ensure incredibly high job losses for multiple years, while YOU paid MONTHLY DUES to the union to do this to you. These Riffs MUST be rescinded.
WASHINGTON — Vice President Joe Biden said the Obama administration “misread how bad the economy was” but stands by its stimulus package and believes the plan will create more jobs as the pace of its spending picks up.
Biden, in an interview airing Sunday on ABC’s “This Week,” said the nation’s 9.5 percent unemployment rate is “much too high.”
Biden said it’s premature to say whether the country will need a second stimulus package.
“The figures we worked off of in January were the consensus figures and most of the blue chip indexes out there,” Biden said.
“We misread how bad the economy was, but we are now only about 120 days into the recovery package,” Biden added. More jobs will be created in coming months, he said.
Biden noted that the $787 billion economic stimulus package was set up to spend the money over 18 months. Major programs will take effect in September, including $7.5 billion for broadband Internet service, plus new money for high-speed rail and the nation’s electrical grid, he said.
You asked for it you got it.
We Americans must learn that the elections are not just a sport to see whose team will win.
You see?… if LA Dodgers or LA Leakers win or lose that will not change your lifestyle.
In contrast,… if Republicans or Democrats win it will change your lifestyle.
So pleas learn you dumb heads!… vote for the best guy not for your guy.
That goes for you Pedroza!
I should add Pedroza that if you want to start making any changes in the Orange County by way of this blog you should create a membership type spin of the OJ so you can build a community.
They can run concurrent!
One for the members intelligence only!… and the other for the anonymous cowards drivel only.
However, to be successful you shouldn’t select the membership based on your melancholy.
I is about a community stupid!… not about pissing contest with Jubal!
Stan,
Obama and Biden were and are the best guys for the job out of the choices we had last November. I still think they are.
I even think they’ve done a pretty good job of turning this economy around from where it was headed. However, too many of their administration were saying we were in recovery mode, when in fact, you have states like california screwing around with the lives of the middle class. By far our biggest enemy is Arnold and the California legislature which have no ideas how to cut back in a timely fashion and to cut out the fat. They are just clowning around and threatening IOU’s, Massive taxes, deep cuts, horrendous job losses of the employees whos work impacts us most.
There are fed stimulus funds coming and I think that more strings should be attached to them so jerks like Arnie can’t wipe out education and other vital services for our citizens.
Biden should also not take Govenors at their word, face value. Gads, Govenors have a credibility crisis of their own going right now at the expense of all of us tax payers.
Red how can you give them a free pass on this, they are horrible, they shoved this “stimulous” bill up our rear ends without even reading it, because it was an “emergency” and now there is talk of a second one? They have spent less than 10% of the almost $1,000,000,000,000 it is not about building up the economy, it is a politcal power grab pure and simple. And what is this jobs “created or Saved” what kind of BS is this?Go out and buy a copy of econonic theory from Dr Thomas Sowell…….
Once again red one!
Using your logic…. Arnold was best guys for the job out of the choices we had at rectal and the other November.
As you can see it does not work that way.
I voted for Arnold first time and he disappointed me to get in the bed with socialists and unions.
I was wrong to believe that Arnold was the best! McClintock would do much better job economically.
I would be happy now if the people would vote against me and Arnold but I would get probably some La Raza socialist for the governor.
I do not know why the socialists are clinching on such illogical ideology concept when they have two historical examples of both Left wing socialism by USSR and Right wing socialism by Third Reich.
It is individualism stupid!
Hello Bigmarkod and welcome back Stan,
So in a follow up piece at the HuffPo makes the charge that Biden actually ignored the warnings of others like Krugman, Stiglitz, Roubini, etc…
http://www.huffingtonpost.com/2009/07/05/biden-ignores-warnings-of_n_225888.html
Snip ~~~~
problematic is Biden’s assertion that “everyone” – not just the White House – was off in their prognostications. This is simply untrue.
The prize-winning Columbia University economist Joseph Stiglitz not only warned that the stimulus was too small during its construction, the day after Obama signed it into law he predicted how its shortcomings would make themselves apparent.
“I think there is a broad consensus but not universal among economist that the stimulus package that was passed was badly designed and not enough.
“The shortfall in state revenue [is] probably in the order of 150 to 200 billion dollars a year. And the states have balanced budget frameworks so if you follow the newspaper you know the drastic problems that California and New York are in, these are really serious problems and because of their balanced budget frameworks they have to reduce their spending… if their income comes down. So that would be a negative stimulus of 150 to 200 billion unless there is federal aid. And the stimulus package there was a little of federal aid but just not enough. So what we will be doing is we will be laying off teachers and laying off people in the health care sector while we are hiring construction workers. It is a little strange for a design of a stimulus package. You ask, why do you want to hire construction workers and fire teachers. I don’t know what is the rationale behind that.”
More, Snip ~~~~~~~
Certainly Krugman himself has aired his share of skepticism. In late June, he reminded his readers that his early concerns had not been misplaced.
“[S]ome of us warned about what might happen: if unemployment surpassed the administration’s optimistic projections, Republicans wouldn’t accept the need for more stimulus,” he wrote in the Times. “Instead, they’d declare the whole economic policy a failure. And that’s exactly how it’s playing out. With the unemployment rate now almost certain to pass 10 percent, there’s an overwhelming economic case for more stimulus. But as a political matter it’s going to be harder, not easier, to get that extra stimulus now than it would have been to get the plan right in the first place.
This past week, meanwhile, he declared once more that the Obama stimulus plan, while “better than nothing” needs to be supplemented with something more.
To be fair, the process of economic forecasting is, as Taleb noted in his CNBC segment, an inherently tricky proposition. In October 2008, for instance, Roubini was arguing that the government needed a $400 billion stimulus package, which ended up being just more than half of what the Obama White House settled on.
But among those who were sounding the loudest alarms about the potential inadequacies of the economic recovery plan, the consensus seems to be emerging that more now needs to be done.
Yeah!!!! CLAP, CLAP, CLAP
Smile, we are one and half years into a depression that has not yet reached bottom.
The Great Depression of 1929 bottomed out early in 1933 3 ½ years later, and did not recover until the mid 1950’s.