So, here is the bottom line. Obama says they underestimated just how bad the economy was -- and in fact, according to him it was THREE TIMES as bad as they thought. Never one second's consideration that (a) Obama policy is what MADE it worse, or (b) if you are off by a factor of three, could it be you just don't know what the fuck you're doing?
What you see here is a slickster at work. Without ever mentioning GWB, he is blaming the entire mess on Bush. Even though it was OBAMA'S responsibility to turn it around, he is giving himself a pass, and reinforcing the erroneous notion that GWB created the mess and thus it was not Obama's responsibility to have fixed it -- even though he overtly claimed responsibility for fixing it at the time.
Unfortunately, most Americans will never see through this shitscreen. Obama is doing the one thing he does well -- selling the voters a line of bull.
Obama was lobbed the question by a sympathetic reporter who said he is getting "pelted in the media" for making a campaign promise he did not keep.
"Well we're not there because this recession turned out to be a lot deeper than any of us realized," Obama said about his inability to cut the deficit in half.
"Everybody who is out there back in 2009, if you look back what their estimates were in terms of how many jobs had been lost, how bad the economy had contracted when I took office, everybody underestimated it. People thought that the economy contracted 3%. It turns it retracted close to 9%. We lost 8 million jobs just in a year's span, about half a year before I took office and half a year after I took office," Obama said.
"So, the die had been cast, but a lot of us didn't understand at that point how bad it was going to get. That increases the deficit because less tax revenues come in, and it means that more people are getting unemployment insurance, we're helping states more so they don't teachers, etc. The key though is we're setting ourselves on a path where we can get our debt under control." |
