« We Don’t Know About You, But We’ll Sure Feel Safer On Our Next Visit | Main | CONSENSUS WATCH - 7/9/2009 »
July 08, 2009
Obama: Administration Did Not Misread Economic Downturn
In an interview with NBC News yesterday, Barack Obama noted that contrary to remarks made by Vice President Biden over the weekend, his administration had not misread the economic downturn. However, he did concede the following:
“I think we did not see the full magnitude of what was going to happen."
“It was happening much more rapidly at an accelerated pace than the projections out there at the time.”
So, while they didn't get the numbers right, didn't see the full magnitude of what was going to happen or anticipate the pace at which it was happening, it's clear the administration in no way "misread" the economy.
He just said so.
J.
July 8, 2009 at 01:34 PM in Current Affairs | Permalink
TrackBack
TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d83451c1dc69e2011571dbb81c970b
Listed below are links to weblogs that reference Obama: Administration Did Not Misread Economic Downturn:
Comments
I have always wanted to find a place to use the term "bafflegab".
I appreciate Obama giving me the opportunity.
Posted by: barryjo | Jul 8, 2009 2:17:45 PM
I'm glad you posted this, I forgot; but I thought I heard him contradict "Gaffe." Just imagine if Biden would have ben nominated and won the presidency...another Spiro.
BTW, I wonder if those two are going to 'hook up' while they're both overseas.
Posted by: ben | Jul 8, 2009 3:38:36 PM
They didn't mess up the, "it's all Bush's fault", part of the narrative though ... now that's effective communication.
Posted by: An Average American | Jul 8, 2009 11:09:39 PM
Good point, they're going to milk that one until someone in the press corps notices and calls it nothing more than bafflegab.
Posted by: Planet Moron | Jul 9, 2009 2:36:38 PM
