'We misread how bad the economy was'

(Visualize me sitting at my desk slapping me head in disbelief.) I guess this explains why Obama chose the business-as-usual economic team that he chose though it also provides some insight into how misguided he has been on the key issue of the day according to him and his team. Obama campaigned hard on this subject yet he still had no idea. How do you not force change (or give people the boot) with such a critical miscalculation? What Biden is saying is that the Obama economic experts were and are a bunch of buffoons. Nice. Imagine what it's going to take for other issues to sink in with this tone deaf White House.

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."

"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.

Also of note is that for the second consecutive week, someone inside the administration has raised the subject of the second stimulus. But of course, they really don't want a second stimulus.