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200 Days In, Vice President Biden Touts Recovery Act

Updated 1:06 p.m.
By Michael A. Fletcher
Vice President Biden declared Thursday that the $787 billion economic stimulus program is playing a major role in lifting the nation's economy out of the worst financial downturn since the Great Depression.

Offering an assessment of the program 200 days after its enactment, Biden said that the legislation has moved the country from the edge of a financial abyss into what increasingly looks like an economic recovery.

"The Recovery Act has played a significant role in changing the trajectory of our economy and changing the conversation about the economy in this country," Biden said in a speech at the Brookings Institution in the District. "Instead of talking about the beginning of a depression, we are talking about the end of a recession."

Biden also defended the pace of spending of stimulus funds, saying that it was crucial to put safeguards and other systems in place to ensure that money was not wasted.

Developing those plans was crucial, he said, but he acknowledged that it slowed the pace of spending in the first 100 days after the measure was signed into law.

"This was all about establishing credibility at the front end of this; that this was going to be done well and differently, with accountability and transparency," Biden said. "Otherwise it had no chance."

While stimulus spending got off to a slow start, Biden said the pace has since increased significantly.

"If you look at the recovery act as a two-year marathon, we're at the nine-mile mark. We're just approaching the nine-mile mark. Two hundred days in, the recovery act is doing more faster and more efficiently and more effectively than most people expected."

While many people think of the recovery act as simply a public works program, Biden said the bill is much more complex than that. The measure provided tax cuts for businesses and individuals, aid to state and local governments that helped avert layoffs, money to extend unemployment benefits and provide health insurance to those thrown out of work, as well as huge grants for renewable energy, education, job training and health care.

"The first part is bring relief to those who were falling into the abyss," Biden said. "The second was to jump-start the economy by giving assistance to states, all of which were in desperate economic circumstances. And third was to reinvest in existing infrastructure and lay a platform for the economic growth and future in energy, education and health care. That was what it was intended to do."

The stimulus plan, when coupled with other initiatives to bail out failing banks and stabilize the housing market, has helped slow the decline in an economy that was in free fall eight months ago, Biden said -- an assessment shared by many private economists. Many forecasters now project the economy will start growing again before the end of this year, brining an end to a deep recession that started in December 2007.

But even while the economy shows signs of improvement, the nation's unemployment rate stands at 9.4 percent and is projected to peak sometime next year at above 10 percent, levels not seen in more than a quarter century.

Still, Biden said, the situation would be much worse in the absence of the recovery plan. The vice president said the White House Council of Economic Advisers will issue a report on Sept. 10 documenting the number of jobs created and saved as a result of the recovery act.

"I am optimistic that their report will show that we met or exceeded" the goals set for the program, Biden said. The administration said the law would create or save 3.5 million jobs over two years.

The program has come under harsh criticism from some Republican lawmakers who say that while it many be helping to moderate the economic downturn, it has not met the administration's promise of creating millions of new jobs. Also, they warn, the huge price tag attached to the program and its contribution to the federal deficit could feed an inflationary spiral once the economy returns to prosperity.

A full transcript of Vice President Biden's remarks at the Brooking Institution Thursday, in which he also promised that President Obama's speech to a joint session of Congress next Wednesday would "be a major speech laying out in understandable, clear terms what our administration wants to happen with regard to health care, and what we're going to push for, specifically," can be read here.

By Michael A. Fletcher  |  September 3, 2009; 12:10 PM ET
Categories:  B_Blog , Economy , Joe Biden  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz   Previous: Cabinet Marks 200 Days of Stimulus
Next: In Colorado, a Sizable Schism on Health-Care Reform

Comments

I own a condo and have an outstanding balance of $140k, consisting of $104k primary and $36k secondary. I took the home equity to consolidate debts. At the time the property was valued at $163k but now it is valued at $134k. I'm looking to sell because i am engaged and will be moving into my fiancee's home. Check http://www.obamamortgagerelief.org/. If I have a buyer who offers me within say $5-7k of the outstanding, can i agree to assume a loan on the residual and pay the bank the difference over time with interest? The same bank holds both mortgages.

Posted by: sonyasilvia0409 | September 4, 2009 4:29 AM | Report abuse

Biden once again has been assigned to BS patrol - everyone knows by now that he's the Obama gopher!

Biden has trouble getting his facts straight, wish he'd come to Arizona and try to make us swallow this speech.

Next time, someone should ask him for an exact accounting of the stimulus monies already spent - I'm betting we'd have more than town hall meetings when we reviewed the report!

The bottomline is we're without a real leader and an honest government - time for a change people!

As Always, Annie

Posted by: annie21 | September 4, 2009 1:20 AM | Report abuse

When I read the comments along with Biden's idiotic report, it seems that some people will absolutely believe anything.

Hailing from Arizona, let's get to the "nitty gritty." Obama promised jobs - it isn't happening here.

He promised homeowners' assistance - his loan modification is a farce (that's speaking from experience.)

The "Cash for Clunkers" will prove to be an absolute disaster in the next 6 to 9 months. "We'll pay double on this far fetched stimulus injection."

Counting the people who have been dropped off from unemployment - our unemployment is peaking between 13 to 15% as we speak.

Many schools don't have the finances to make it thru the school year. Homeowners are still losing their homes including those that received "God's" fantastic homeowners' assistance package.

Old well established businesses are closing their doors - so don't anyone have the nerve to tell Arizonians that things are better and the stimulus package is working as planned.

Biden is only a gopher for Obama sitting up and begging when told. It takes a ---- of a lot of nerve to try to convince Americans that the present administration has in fact saved us!!!!

PS Arizona doesn't want Obama brainwashing their kids!

As Always, Annie

Posted by: annie21 | September 4, 2009 1:03 AM | Report abuse

Hey Short1. I call BS on this statement:

WHY?>>>>Because BO is getting ready to sock the c-r-a-p out of every small-mediun business with a tax wallop unheard of.......this diminishing potential profits - while stifling growth...so so no added employee's under those circumstances.....Economics 101....

What? Where the heck did you get this from? What tax "wallop" are you talking about? Read your econ text again because you must have skipped some of it, as in 99%, so you can focus on your whine-making. (It's the Repugnican't way: 1% before 99%) There are certainly some small business entrepreneurs who will cut and run because they are afraid. If you want to create wealth being an entrepreneur, you have to take risk, and taxation is part of the process. I accept it and work within the system; my colleagues accept it and work within the system. If you can't accept taxes, then step aside and let the rest of us do what needs to be done. Just make sure you tell every potential employer how you like lots of whine with your job, so they can avoid hiring you. And make sure you don't take SS, medicare, food stamps, welfare, disability or any of those other programs you seem to think are worthless.

Posted by: mraymond10 | September 3, 2009 11:10 PM | Report abuse

So how do you feel about Bush sending trillions out of the country to spread misery and death?

At least Obama is trying to take care of domestic priorities that were so neglected over the past 8 years.
Posted by: JRM2 | September 3, 2009 6:21 PM
*******************************

Govt waste is govt waste no matter who is in office. Pres. Bush was no fiscal conservative! And neither is Pres. Obama.
But if you want to blow some numbers around concerning war you might want to read these:

"Under the proposed budget, which now must be considered by Congress, overall spending by the State Department and related agencies would rise to nearly 54 billion dollars in 2010, a nine percent increase in the money to be spent in FY 2009.

While that remains a tiny percentage of the total proposed federal budget of 3.4 trillion dollars, the percentage increase in State Department spending, if approved, would be more than twice the proposed increase in the Pentagon's budget – up four percent from the current year to 534 billion dollars in FY 2010, which begins Oct. 1.

The proposed Pentagon budget, however, does not include some 130 billion dollars in additional funding for U.S. military operations in Iraq and Afghanistan in 2010, according to the budget details released Thursday by the White House's Office of Management and Budget (OMB). For the first time since 2002, war expenditures in Afghanistan will exceed those in Iraq, according to the budget."

http://ipsnews.net/news.asp?idnews=46782

so much for Prez O'let'sSpend It All's promises of getting US out of war...

Posted by: CanWeGetSomeCommonSense | September 3, 2009 8:35 PM | Report abuse

Eliminate Federal Reserve and this country will fully recover within a one year. Our senators need to speak up, because every single of them knows that Federal Reserve is draining this country, but they are afraid or they are already paid to be quiet.

Posted by: BOBSTERII | September 3, 2009 7:29 PM | Report abuse

Remember when Oumer said in January that 1 or 2 million jobs would be created almost immediately?
Remember when president BO said without the Stimulus Bill unemployment would rise to 8.5 per cent this summer?

This Administration does not have ANY idea how the American economy works. BO would do much better as president of Somalia where a Muslim ruler can rule as a dictator.

Posted by: sperrico | September 3, 2009 7:22 PM | Report abuse

@Posted by: CanWeGetSomeCommonSense

So how do you feel about Bush sending trillions out of the country to spread misery and death?

At least Obama is trying to take care of domestic priorities that were so neglected over the past 8 years.

1/3 of the stimulus was tax cuts, do you get that?, TAX CUTS.

1/3 is being used to invest in private enterprise, ingenuity, education, clean energy. Is that OK with you or do you want a nation of morons who keep sending our money to the middle east for oil?

1/3 is to invest in our nation's infrastructure which has been given a "D" rating by the Army Corp of Engineers for the last 10 years. Or would you rather see more bridges collapsing in Minn.?

Posted by: JRM2 | September 3, 2009 6:21 PM | Report abuse

Since all you clowns out there already hated Obama from the get-go just ask the same agency that criticized statements he made on health care how the stimulus is working. For once, do a little research before you engage your brains:

It's called the Congressional Budget Office.
http://www.propeller.com/story/2009/08/25/cbo-stimulus-is-helping-economy/

There, I made it easy for you.

Posted by: JRM2 | September 3, 2009 6:15 PM | Report abuse

Reality Check time for O'Bomba's deluded masses:

The Economy might improve.

BUT, it will NOT be because of anything these Twits did!

It will be in SPITE of them!

Posted by: SAINT---The | September 3, 2009 5:34 PM | Report abuse

If you people had behaved in the same manner during the past eight years while Bush and the Republicans were putting our country in the state it is in, it would be different.
Posted by: catmomtx | September 3, 2009 4:54 PM

**********************
Sweet Pee it started a lot longer than 8 years ago. However, here's a little wiki info: "More recently the debt increased from $5,629 billion to $9,926 billion during the George W. Bush presidency from 2000 to 2008. The debt is now projected to double under the Obama presidency to a level close to 97% of GDP." http://en.wikipedia.org/wiki/United_States_public_debt

Let's break this down so you can track..
according to wiki, under George Bush ( 8 years at helm) debt increased by roughly 4.3 billion dollars. Under Prez O'let's Spend It All, debt will double...hhhhmmmm??? Who is spending more? Faster? I would venture to say Prez O'let's Spend It All, is increasing our woes significantly and he's not even done yet. His presidency is just in the beginning so we have a long way to go in terms of increasing our debt....tracking yet?

Posted by: CanWeGetSomeCommonSense | September 3, 2009 5:29 PM | Report abuse

"Vice President Biden declared Thursday that the $787 billion economic stimulus program is playing a major role in lifting the nation's economy out of the worst financial downturn since the Great Depression".
==========================================
REALLY JOE!!!!!

And maybe you can tell us what planet you live on. Is this something Oboozo ordered you to do as he held a gun to your head? I know honesty has never been a part of your character but maybe you'd like to offer some credible truths to back up your claim.

Allow me to help-
1) Skyrocketing unemployment which was supposed to drop but is climbing - Nope, can't use that one


2) Runaway government spending which was suppose to be brought under control and has run unabated since inauguration day adding to our deficit and dependence on China to bail us out. Nope, can't use that one.

3) Shrinking GDP which was supposed to increase impacting jobs, tax revenues, and recovery time. Nope, can't use that one.

You imbeciles on the left need to stop listening to these profits who dislocate their shoulders patting themselves on the back with one months worth of data. Trends are down and continuing down.

The very recent uptick is due to seasonality - summer time brings many, many TEMPORARY improvements in the economy (like housing because that's when people move). As proof, that a look at last summers numbers and then pull up the comments from Oboozo and Biden, the wonder lapdog, and the sycophants in the press. They mirror comments made this summer as well.

Posted by: Bcamp55 | September 3, 2009 5:11 PM | Report abuse

OK, I'll say it!:

IT AIN'T SO, JOE!

The only thing that is going to make the Economy look good right now;

Will be November's!

Posted by: SAINT---The | September 3, 2009 5:04 PM | Report abuse

It is clear that no matter what happens positive during President Obama's term there will be those who can't wait to criticize and down play it. They have already shown that they will tout all that is wrong but down play anything positive. I am not sure what the Obama haters are expecting. It seems that they wanted President Obama to wave a magic wand and whoop, there it is !! everything is fine in the country all in one swell swoop. Of course from what we have seen so far they would probably criticize that as well.

Considering the shape this country was in, and for those of you who won't admit it, what President Obama inherited from the Bush administration, things are going quite well. It is so sad to see how some people hate this country and want to see it fail all because of a President who doesn't look like them. And believe me, as much as many of you will deny it has anything to do with race, I beg to differ. The treatment, the rhetoric, the behavior from so many on the right can only be explained by one thing, race, period. If you people had behaved in the same manner during the past eight years while Bush and the Republicans were putting our country in the state it is in, it would be different.

Posted by: catmomtx | September 3, 2009 4:54 PM | Report abuse


Sheesh, you'd think signs of turn around after only eight months would make people a bit happy. What a bunch of whiners. After an economic crash the size of the Great Depression, it is a miracle if it turns the corner this year.

Why did the crash happen, prior to Obama's presidency? Let's just look forward to a better, stronger U.S.

Posted by: rjbunny | September 3, 2009 3:59 PM

******************
A better, stronger USA is when the people who work get to keep their money so they can invest, expand, and be productive.
Handing our money over to a crazy driver, at the wheel of a steam roller called, "Happy Spending Someone's Else's Money Mobile" is total irresponsibility. 2010 people. Be there!

Posted by: CanWeGetSomeCommonSense | September 3, 2009 4:43 PM | Report abuse

Joe "Plugs" Biden knows no one can measure if any jobs have been saved by this Administration's giveaway of tax dollars to their political connected buddies.

Posted by: sperrico | September 3, 2009 4:42 PM | Report abuse

Now,let's turn the discussion back to your complaints. What are you doing to help America other than stinking up the boards? If you are jobless, why aren't you out creating opportunities instead of griping? If you aren't jobless, why aren't you finding ways to grow your company and create new jobs?

If you aren't willing to help your fellow Americans, "lib'ruhl" and "repugnican't" alike, then you are part of the problem and not part of the solution. Step aside and let the rest of us get the country back on track.

Posted by: mraymond10 | September 3, 2009 2:41 PM

====================================
WHY?>>>>Because BO is getting ready to sock the c-r-a-p out of every small-mediun business with a tax wallop unheard of.......this diminishing potential profits - while stifling growth...so so no added employee's under those circumstances.....Economics 101....

Posted by: short1 | September 3, 2009 4:39 PM | Report abuse

Oh please . . . the economy is continuing to deteriorate and the stimulus monies are being wasted. Somebody tell Joe to return to his self induced coma and stop embarrassing himself.

Posted by: rplat | September 3, 2009 4:33 PM | Report abuse

The best stimulus that I have seen in a long time was tax free weekend in Texas. The mall parking lots were full. People were buying. It looked like Christmas shopping in the 80's. Washington...Give us a TAX REFUND/BREAK!! That will be some usable stimulus to our family! STOP giving our hard earned tax dollars to projects that only benefits those who voted for you!!!!! 2010. We will be there!

Posted by: CanWeGetSomeCommonSense | September 3, 2009 4:30 PM | Report abuse

Hey Joe.....you just keep clicking those ruby red slippers of yours......and repeat after me ....how I wish what I said were true...how I wish what I said were true....how I wish what I said were true..............Next you'll be telling us.....our budget deficits are going down. What a moron!

Posted by: short1 | September 3, 2009 4:30 PM | Report abuse

One String One Nut

Your math skills aside, how can one defend the stimulus package as keeping the US from a Global Depression? Pray tell, the percentage of the funds spent is a pittance - nothing that would move people to begin consuming goods. You must believe in the tooth fairy, as well.

Posted by: jhpbriton | September 3, 2009 4:28 PM | Report abuse

The foot in mouth Joe is back? Show me the money Joe? Go back to school and take the math class you missed. You liberals are eating up this garbage.

Posted by: MOMLEE | September 3, 2009 4:26 PM | Report abuse

If it were not for the stimulus plan the US would be in a GLOBAL DEPRESSION.

Facts are facts.

Now get back to work.

Posted by: onestring | September 3, 2009 4:17 PM | Report abuse

Unfortunately, the ill-named Stimulus Package truly was a Payola Package. Please examine the entities that received the funding. The vast majority are the same organizations that supported the new administration in the last election cycle.

The fact that only a small percentage of funds have actually been dispersed is another tell tale sign that this is NOT a Stimulus Package.


The biggest joke I have seen are the signs trumpeting the 'Stimulus Package' at work. Go out on East Bound I 70 from Washington, PA towards Wheeling, WV. The road was down to one lane (traffic backed up for 20 miles or more) the last several weeks. For what? A few bridge repavements that could have been done in a weekend. A collosal waste of time and money.

Posted by: jhpbriton | September 3, 2009 4:10 PM | Report abuse

hey Posted by: sanmateo1850
you got it all wrong! they are dems in power THEY DONT HAVE TO SHOW YOU NO DATA - and ITS NOT RESULTS THAT MATTER ITS THEIR GOOD INTENTIONS.
headstart is a success - most grands in federal and state prisons.

Posted by: infantry11b4faus | September 3, 2009 4:03 PM | Report abuse

We are finally focusing on making the nation a better place to live. Greener cars, national health care, international respect. It's all good. Well done, Obama and Biden. Get a national health care program in place and the country can rebuild even more quickly. Homes are beginning to sell again, employment figures are leveling. Thank-you! That is why we elected you.

Posted by: rjbunny | September 3, 2009 4:03 PM | Report abuse

Baloney!

Posted by: JAH3 | September 3, 2009 4:03 PM | Report abuse

Posted by: Jeff08 | September 3, 2009 4:02 PM | Report abuse

Sheesh, you'd think signs of turn around after only eight months would make people a bit happy. What a bunch of whiners. After an economic crash the size of the Great Depression, it is a miracle if it turns the corner this year.

Why did the crash happen, prior to Obama's presidency? Let's just look forward to a better, stronger U.S.

Posted by: rjbunny | September 3, 2009 3:59 PM | Report abuse

Posted by: Classic60 | September 3, 2009 2:57 PM

If the government is taking my money, I haven't noticed it. My income is the same and even slightly larger, my payroll taxes haven't changed. The interest rates on my mortgage and home improvement loans haven't noticeably changed. The price of energy isn't any different than under Bush and the investments that I've personally handled have all increased. Tell me again how Obama is stealing my money.
-------------------------------------------
Must be nice to have money....Do you live in the DC area?
I do and it is very expensive to live here. My wife has lost her job this week along with a few others in an Association that was started by FDR in the Depression! I am not touting Republicans or Democrats here (god forbid) but I am sick of lies from corporations and politicians’ about what is really going on. Electric has increased; Groceries have increased, Utilities and so on. What happened to VA getting rid of the Car tax thing????? (Most of the people who live here do not remember that because about 85% are from somewhere else). A pure case of the give me, give me your money song and dance from all forms of government. If it is not the state and or local governments it is the federal. Go and try getting a building permit from a local jurisdiction and see how many different agencies have their hand out for money. I am glad you have time to personally do your finances to make yourself money but I do not. I have not had a raise in two years, or a cost of living increase. So you must be in what Obama called the 95% whom will not see an increase in taxes and will not be affected by the stimulus blah blah...... Well it must be good to be in the 95% because some how I ended up in the elite 5%. We are still getting jacked by the gov. and from where I sit all that I see is the same thing going on in DC just under a different name.


Posted by: elesteban | September 3, 2009 3:59 PM | Report abuse

WHAT A CROCK OF S---T!

Posted by: crumppie | September 3, 2009 3:58 PM | Report abuse

What a joke these clowns are. I hope you Dems are happy for what you have done!

Hey Joe, show us the data! Show us how your stimulus plan directly made the economy turn around. What investments have you made that directly impacted anything!?!? Maybe it was the $15M you provided a US border station that sees 3 people a day! WOW, nice oversight!

It is all a silly game, and unfortunately, we get stuck holding the bag when they leave office.

So I wonder how much longer you Dems will continue to blame Bush. Eventually your time will run out. I hope you have your bags pack!

Posted by: sanmateo1850 | September 3, 2009 3:56 PM | Report abuse


I think our plugged head VPOTUS must've had the plugs go too far into his brain.......check out the food stamp increases.

WASHINGTON (Reuters) - More than 35 million Americans received food stamps in June, up 22 percent from June 2008 and a new record as the country continued to grapple with the worst recession since the Great Depression of the 1930s.

The food stamp program, which helps cover the cost of groceries for one in nine Americans, has grown in step with the U.S. unemployment rate which stood at 9.4 percent in July.

The Labor Department will release August employment figures on Friday.

June was the seventh straight month in which food stamp rolls set a record. The average benefit in June was $133.12 per person.

------------------------------------

I think our plugged head VPOTUS must've had the plugs go too far into his brain.......check out the food stamp increases.

Posted by: charlietuna666 | September 3, 2009 3:56 PM | Report abuse

Biden got a very good job.. I guess anyone can get one.

Posted by: newbeeboy | September 3, 2009 3:54 PM | Report abuse

Obama and Biden both bite and so do some of their employees. They need to stop sending unruly mobs to demonstrate for Obamacare. A Moveon.org activist bit off the finger of a 65-year-old counter-protester in California. When will the White House stop siccing their dogs on the opposition?

Obama has used every trick in the book to get elected. Sending mobs is sickening and is no way to govern this nation. It is time to move on and act more civilized.

Posted by: alance | September 3, 2009 3:47 PM | Report abuse

Hillarious :-D Just a month ago, Biden was saying the administration did not judge how bad things really were, in order to deflect blame on how bad things got, and it was not their fault. Now, they are touting how they saving the economy with their policies.

They lay blame elsewhere and only adjulation upon themselves.

Posted by: SirLoinofBeef | September 3, 2009 3:46 PM | Report abuse

I live in *******, where's the recovery ? The only people with money are the banks & we gave it to them & they're keeping it ... Tell them to give it back !!

Posted by: wasaUFO | September 3, 2009 3:43 PM | Report abuse

Paying an ad agency a bunch of our unborn's money to make a bunch of signs that say road are being repaired under stimulous and put them everywhere is not a recovery.

The only construction on roads going on is the old stuff already started and being paid for from another Federal or State Pork bill in history.

Biden should zip it and listen to the people, not Obama demanding that he stick up for him, or get canned.


Democrats have to place Obama on medical stand down or face elimination, we all see that, so just get on with it. They have to drop kick Pelosi to the moon also.

Place Biden to reverse this mess now!!!!

Posted by: dottydo | September 3, 2009 3:27 PM | Report abuse

And who is this person named Biden? I seem to recall a VP named Biden but he dissappeared. Anyone seen him? I did hear once of a Biden who used to be a Senator who rode a train a lot, working mainly for S&L, Banks and Credit Card companies thta were in a far off land called Delaware and who was saving, like the Kennedy's, his senate seat for his son. But again that is a rumor. Right?

Posted by: KBlit | September 3, 2009 3:25 PM | Report abuse

What the heck is Biden talking about? He must be living in his own fantacy. Now our children and grand children $787 BILLION more in debt, not to mention the socialist system these clowns are turing this county int!!! Impeach O-bang-your-mama and Biden and the rest of the Dumbercrats in the congress!!!!

Posted by: mbaorbust | September 3, 2009 3:20 PM | Report abuse

Look, even giving Biden a little slack here to claim as much benefit as possible from the Porkulus bill, as any politican would do, it's just a tad laughable that he has linked some promising leading indicators to the paltry amount of "stimulus" that has actually flowed into the economy.

The "tax cuts" should have been reflected back in increased consumer spending. Instead, the relatively small amounts have been soaked up in increased consumer savings, as wary consumers trim personal balance sheet liabilities.

Much of the money that has flowed out so far that is not related to tax cuts, has gone to states. This has enabled states to save public service sector jobs. Government jobs do not an economy make. And it is by no means clear what will happen to these jobs next Fiscal Year, when states have even bigger budget problems, and there is no more pork.

The myth of "shovel ready" projects is pretty well exposed now. Had there truly been a bunch of these, and had the bill actually focused on infrastructure spending, then Catepillar would be hiring and their stock would be soaring. This has not happened.

The problem with Biden's pitch is that for most Americans, the economy is JOBS. Unemployment is going to remain stubbornly HIGH for some time. Housing prices are still cratering, and nothing the Administration has done or will be able to do will reverse the foreclosure avalanch.

The encouraging signs in the economy are simply the inevitable swing that comes with every business cycle. Free markets go up and down. If there has been anything that has helped, it has been the Fed's monetary policy, which saved the banking sector. Lending is starting to come back, and that was required to facilitate the natural rebound in the cycle.

Joe, God love him, is trying as best he can, but virtually no economist of any stature agrees with him.

Posted by: Curmudgeon10 | September 3, 2009 3:15 PM | Report abuse

What planet is Joe on today?

Posted by: wheeljc | September 3, 2009 3:09 PM | Report abuse

OH NO!!! This is not going to be helpful!!

http://www.breitbart.com/article.php?id=CNG.e3a8559d0803842b321498a03088687a.851&show_article=1

Where is all of that good will that Obama was going to bring us???

Posted by: wheeljc | September 3, 2009 3:07 PM | Report abuse

I agree with Biden. We would have been a lot worse off economically without the stimulus plan. Things were looking potentially a lot worse 6 months ago.

People have very short memories.

Posted by: novatom1 | September 3, 2009 3:05 PM | Report abuse

Just be glad the Repukes aren't in the White House!

Posted by: Classic60 | September 3, 2009 2:57 PM | Report abuse

If the government is taking my money, I haven't noticed it. My income is the same and even slightly larger, my payroll taxes haven't changed. The interest rates on my mortgage and home improvement loans haven't noticeably changed. The price of energy isn't any different than under Bush and the investments that I've personally handled have all increased. Tell me again how Obama is stealing my money.

Posted by: blarsen1 | September 3, 2009 2:41 PM | Report abuse

Wow, what a bunch of real patriots you trolls seem to be. It doesn't matter what is said and how accurate or inaccurate it may be, as long as it was said by a (gasp) "lib'ruhl" you only see red (and socialists under your beds). Hello Neo-McCarthyites.

It also amazes me that you trolls seem to expect Obama to have a magic wand that can instantly create new jobs. Wow, are you living under rocks as well as praying to McCarthy (your messiah)? Job growth has always been a lagging indicator of recovery and if we take some lessons from the most recent recession, job growth will be slower with every new recession. Even your precious Bush had trouble with job growth and he was able to create vacancies by calling up the National Guard. It seems like Biden is doing the job of cheerleader for the Administration and I won't fault him for that, just as I wouldn't fault Cheney for serving as cheerleader to Bush. It also seems that Biden's statements are mostly accurate: this was a longer term plan and is still being implemented. I am willing to give it time although I admit to the luxury of a job.

Now,let's turn the discussion back to your complaints. What are you doing to help America other than stinking up the boards? If you are jobless, why aren't you out creating opportunities instead of griping? If you aren't jobless, why aren't you finding ways to grow your company and create new jobs?

If you aren't willing to help your fellow Americans, "lib'ruhl" and "repugnican't" alike, then you are part of the problem and not part of the solution. Step aside and let the rest of us get the country back on track.

Posted by: mraymond10 | September 3, 2009 2:41 PM | Report abuse

Biden....LOL

Posted by: ChangeWhat | September 3, 2009 2:39 PM | Report abuse

stimulus is putting us all in a deep hole..
as for bail outs...should not have happend..period..

Posted by: rw62827 | September 3, 2009 2:38 PM | Report abuse

My money is all spent. The government keeps taking it and I'm not stimulated. I need to spend Joe's, Barry's, Nancy's & Harry's and maybe it will help to get my economy going again.

Posted by: 45upnorth | September 3, 2009 2:34 PM | Report abuse

Yea .Thats real good .From the edge of the abyss into the abyss .Hey Biden your going the wrong way .

Posted by: Imarkex | September 3, 2009 2:31 PM | Report abuse

Maybe Biden used LSD at high dosage, too often in the 1960s. Because the American economy is crashing at decreasing speed doesn't mean that recovery is at hand. Look at it this way: there are fewer jobs overall so the rate of job loss is at least as great as it was in May.

Posted by: sperrico | September 3, 2009 2:30 PM | Report abuse

Actually it was Bernanke who pulled the nation back from the abyss.

If the stimulus bill hadn't been so haphazardly put together it could of had a significant impact toward the end of this year. The bill needed to have at least 250B or more towards brick and motor infrastructure and small business tax breaks to bring down unemployment. Unfortunately, the bill threw a lot of money around, but targeted nothing.

Posted by: johnnyapplewhite123 | September 3, 2009 2:28 PM | Report abuse

Joe Biden the sooner you and yours join Ted the better. You jerks couldn't run a lemonade stand with the economics you use. You obviously don't care becuase you are a pampered buraucrate. You should be forced to actually work for a living instead of stealing from the American public.

Posted by: flypilot1776 | September 3, 2009 2:27 PM | Report abuse

AND I JUST SAW PIGS FLYING DOWN MY STREET!

DOHHH!!!

Posted by: xinunus | September 3, 2009 2:22 PM | Report abuse

i guess you would rather have tax breaks for the extreme wealthy? we would be in a major depression right now if maccain was in office. we'd be losing a million jobs a month if it weren't for the stimulus

Posted by: whatdyousay | September 3, 2009 2:16 PM | Report abuse

Obama/Biden=Dumb & Dumber. We need to cancel Tarp and the porkulus. We loose 570,000 jobs, but on the bright side they are adding 270,000 government jobs.

Posted by: Bubbette1 | September 3, 2009 2:14 PM | Report abuse

scivener50- U freak me out. what a weirdo.

Posted by: IvannaHumpensack | September 3, 2009 2:14 PM | Report abuse

One thing is for Sure!


Whatever Biden took to see such hallucinations, and separate himself from the tragic reality of our World;

I want TWO! ;~)

Posted by: SAINT---The | September 3, 2009 2:12 PM | Report abuse

Really Joe!?


Last Week's New Jobless Claims: 570,000, More Than Expected

The recently unemployed filed 570,000 new unemployment claims last week, the same as the week before and 10,000 more than forecasters expected, the Labor Department reported moments ago.

Continuing claims rose from 6.13 million to 6.23 million, down from 6.9 million at the depth of the recession.

Today's news comes ahead of tomorrow's big number -- the August unemployment rate. Forecasters expect the national unemployment rate to tick up from 9.4 percent to 9.5 percent when the figure is released tomorrow morning.

Posted by: seawolfR | September 3, 2009 2:10 PM | Report abuse

What an absolute dumba$s joke. Biden goes out and sticks his foot in his mouth regularly.

He and Odumbo make Bill Clinton look like a pillar of integrity...and that ain't easy folks.

Posted by: LarryG62 | September 3, 2009 2:04 PM | Report abuse

So - Joe is alive!! :-)
Obama said Joe would watch over the stimulus spending :-)
Good job Joe !!!!
If it weren't for your vigilance and updates I would be very concerned!!!
Can't wait until you are in charge of my healthcare!!! :-)

Posted by: thornegp1 | September 3, 2009 2:04 PM | Report abuse

Biden is more entertaining than I ever imagined. He is priceless...a regular Hennie Youngman.

Posted by: MPNangle | September 3, 2009 2:03 PM | Report abuse

...."The Recovery Act has played a significant role in changing the trajectory of our economy and changing the conversation about the economy in this country," Biden said in a speech at the Brookings Institution in the District. ...."

thanks Mr. Biden.

Posted by: TheBabeNemo | September 3, 2009 1:50 PM | Report abuse

what recovery is this buffoon talking about? This is Obama's economy now.

Posted by: loudountaxrevolt | September 3, 2009 1:29 PM | Report abuse

MEMO TO VP BIDEN: "FIRST, DO NO HARM."

COVERT USE OF MICROWAVE/LASER 'DIRECTED ENERGY WEAPONS' ON U.S. CITIZENS MAKES HEALTH CARE REFORM A CRUEL JOKE

Access to health care doesn't help untold thousands of unjustly targeted Americans recover from the devastating physiological effects of being silently irradiated by microwave and laser directed energy weapons -- the weaponization of the electromagnetic spectrum, a silent "final solution" that may have the nation's political leadership in its ideological cross-hairs.

This technology is capable of altering moods, emotions, inducing fatigue, weakness, exhaustion, confusion, life-altering injury, disease and a slow-kill death. And key elements of the Obama administration, chief among them the defense/security/intel establishment, are proliferating these technologies by various modalities -- from hand-held weaponry to satellite and terrestrial cell tower based delivery systems.

By its naivete, its rubber-stamp approval of the deployment of these destructive technologies, the Obama administration is presiding over the destruction of democracy, the rule of law, and personal liberty.

Until the Obama administration realizes that a covert federal-local multi-agency coordinated action "program" is executing a high-tech "final solution" on unjustly targeted Americans -- right under POTUS' nose -- health care reform amounts to little more than a cruel false hope.

These "targets" also are subject to financial sabotage on the federal and local levels that decimates their livelihoods and financial resources along with their lives.

The bureaucratic saboteurs and Dr. Strangeloves behind these multi-agency crimes against humanity and the Constitution must be removed from power, immediately, before this silent genocide claims more victims.

http://nowpublic.com/world/gestapo-usa-govt-funded-vigilante-network-terrorizes-america

OR (if link is corrupted / disabled):

http://NowPublic.com/scrivener RE: "GESTAPO USA"

Posted by: scrivener50 | September 3, 2009 12:55 PM | Report abuse

Talk about flakes. One of Obama healthcare
supporters in Ca. bit-off the finger of someone opposing Obamacare. Liberals are out of control, nasty,ugly, mean-spirited, very unlike the democratic
party I used to belong to. What ever happened to "ask not what your country can do for you; ask what you can do for your country". Democrats have changed alright...now its all about "entitlement".

Posted by: ohioan | September 3, 2009 12:36 PM | Report abuse

Obama to lay out specifics on healthcare: Biden
-------------------------------------
must be another Biden Gaff....obama can only lay out pages on a book he writes.

Posted by: JWx2 | September 3, 2009 12:32 PM | Report abuse

Biden: Stimulus doing more `than we had hoped'
---------------------------------------------
yes...americans noticed that only 570,000 filed new unemployment claims....keep up the good work joe gaffer....you moron.

Posted by: JWx2 | September 3, 2009 12:27 PM | Report abuse

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