Biden Admits He And Obama Have No Understanding Of The Economy, But Stand By The Stimulus Bill – With Video

Big admission from Vice President Joe Biden today.

“The truth is, we and everyone else misread the economy,” Biden told me during our exclusive “This Week” interview in Iraq.

Biden acknowledged administration officials were too optimistic earlier this year when they predicted the unemployment rate would peak at 8 percent as part of their effort to sell the stimulus package. The national unemployment rate has ballooned to 9.5 percent in June — the worst in 26 years.

“The truth is, there was a misreading of just how bad an economy we inherited,” said Biden, who is leading the administration’s effort to implement it’s $787 billion economic stimulus plan.

“Now, that doesn’t — I’m not — it’s now our responsibility. So the second question becomes, did the economic package we put in place, including the Recovery Act, is it the right package given the circumstances we’re in? And we believe it is the right package given the circumstances we’re in,” he told me.

The vice president argued more time is needed for the stimulus to work.

“We misread how bad the economy was, but we are now only about 120 days into the recovery package,” he said. “The truth of the matter was, no one anticipated, no one expected that that recovery package would in fact be in a position at this point of having to distribute the bulk of money.”

Biden didn’t rule out a second government stimulus package, but downplayed calls from Nobel Prize-winning economist Paul Krugman this week that a second stimulus will be needed.

I pressed the vice president, who is also leading the administration’s middle-class task force, on whether he’d rule out a second stimulus package.

“So, no second stimulus?” I asked.

“No, I didn’t say that,” Biden said, “I think it’s premature to make that judgment. This was set up to spend out over 18 months. There are going to be major programs that are going to take effect in September, $7.5 billion for broadband, new money for high-speed rail, the implementation of the grid — the new electric grid. And so this is just starting, the pace of the ball is now going to increase.”

–George Stephanopoulos

After reviewing MJ’s debt . . .

First Time Ever: Marine Color Guard Forced To Work Super Bowl But Denied Seats

Thunder Run:

Gen. Ray Odierno, commander of Multi-National Force–Iraq, recently issued an expanded waiver to the policy issued earlier allowing beer to be served for troop stationed in Baghdad last week, according to military officials the expanded waiver allows all units in Iraq to serve two beers per servicemember during the big game.

I’m referring to the Super Bowl of course.

What a change from years past, when only near beer was allowed. But … and there is always a but, not everything is coming up roses for military units in all things Super Bowl related

Since 9/11/01 it has become quite the event to have military color guards present the colors and be present during the singing of the National Anthem at sporting events of all kinds, and at Super Bowl XLIII this will also take place. So to say I was surprised when I received this email from a distraught Marine Mom would be an understatement:

My youngest Marine called me this morning. In the course of the conversation he made mention of being part of the Color Guard for the ceremonies at the Super Bowl. He has been part of other Color Guards at other games and has been able to enjoy the entire game after presenting the Colors. HOWEVER, this will not be the case this time. The 12 man/women color guard will be presenting the Colors and then will be escorted out of the stadium and therefore not allowed to see the game. Steven and the 11 others are quite upset about this and have asked that I see if I could contact someone and have that changed.

What? The Super Bowl won’t let the military color guard stay and watch the big game? Continue reading . . .

Found on Pat Dollard’s Blog

Scandal Likely To Ruin Obama’s Inauguration – “A Slew Of Uncomfortable Questions”

Times Of London:

In August 2006, when it was publicly known that Governor Rod Blagojevich and his staff were being investigated for corruption, Barack Obama took the microphone at the Illinois State Fair.

“We’ve got a governor in Rod Blagojevich who has delivered consistently on behalf of the people of Illinois,” he declared to the crowd as he endorsed the Illinois Governor for re-election.

Now, with the allegations that Mr Blagojevich tried to hawk Mr Obama’s vacant Senate seat to the highest bidder, the scandal — and the stench of Chicago politics that the President-elect hoped he had put behind him — is raising a slew of uncomfortable questions.

Mr Obama’s endorsement of Mr Blagojevich in 2006 was an example of the way that he operated in Chicago. He rarely bucked or challenged the corrupt status quo — in stark contrast to his image as a reformer. Continue reading . . .

Fallin’-Down Drunkin’ Friday Guffaw: “You Don’t Get Through Chicago Like Obama Did Unless You Know How To Avoid People Like [Blago]”

Previous Funny Pages On Obama Blago

Bush: “Screw Congress, I’ll Bail Out The Auto Industry Myself.”

The Bush administration would consider using money from a fund intended to rescue U.S. financial markets to prevent the collapse of the nation’s auto companies, White House spokeswoman Dana Perino said.

“Under normal economic conditions we would prefer that markets determine the ultimate fate of private firms,” Perino told reporters aboard Air Force One. “However given the current weakened state of the U.S. economy we will consider other options if necessary, including use of the TARP program to prevent a collapse of troubled automakers.”

General Motors Corp. and Chrysler LLC have said they need a total of $14 billion in loans to keep operating. An aid package for the automakers failed in the Senate last night.

Bush was pressed by House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid to tap funds from the Treasury’s $700 billion bank-rescue fund.

The Bush administration had warned of a million lost jobs if the industry imploded. The Senate vote was a repudiation of Bush, who personally lobbied for the bill. Only 10 Republicans in the Senate voted to move forward on the auto-rescue plan. Continue reading . .

“FNC’s Hannity & Nobody” … Sean Hannity To Fly Solo In January

Breaking: “Hannity” To Premiere January 12

(Media Bistro)

TVNewser has learned Fox News will debut a new program at 9pmET, entitled “Hannity,” featuring Sean Hannity as host. The program premieres January 12.

“Hannity” will include a “Great American Panel” of three nightly in studio guests — a liberal, a conservative and an “X factor.” The show will mix commentary, interviews and special segment like a “Hate Hannity Hotline.”

This is the first time in FNC’s 12-year history it will alter programming at the 9pmET timeslot.

Ever since Alan Colmes announced he was leaving “Hannity & Colmes” on November 24, speculation has run rampant as to what FNC would do in his absence. TVNewser has run a poll since the announcement, and more than 26,000 votes have been cast. Within the last 24 hours, the poll was linked once again on Hannity.com and for the first time, “Hannity Solo” is the leading option. Continue reading . .

Gov. Schwarzenegger Bested By Only Problem He Can’t Shoot: California’s Budget

SACRAMENTO, Calif. – California’s budget deficit will reach $41.8 billion over the next 18 months, potentially forcing the state to halt payment for services such as utilities for state offices and food for prison inmates if lawmakers don’t solve the problem, Gov. Arnold Schwarzenegger’s administration said Thursday.

The gap is far worse than already abysmal estimates, which a Legislature’s nonpartisan analyst had pegged at $28 billion through June 2010.

The shortfall for the current fiscal year, which ends June 30, has grown to nearly $15 billion. That together with deficit estimates for the next budget year total $41.8 billion, said Matt David, a spokesman for Schwarzenegger.

California is projected to run out of cash in February and may have to issue IOUs for its bills. It is obligated by law to pay employees, schools and its debts, but it could halt payments to vendors who provide services such as the gas for California Highway Patrol vehicles, food service in prisons and utilities for state offices.

State Treasurer Bill Lockyer also had that unless lawmakers agree to take action, the state would have to stop financing $5 billion in infrastructure projects next week, which could mean a loss of about 200,000 jobs.

The state already has lost its ability to borrow because of its fiscal mess. Continue reading . .

The Future Of The GOP

POLITICO:

There have been four modern GOPs: Barry Goldwater’s, Richard Nixon’s, Ronald Reagan’s and George W. Bush’s.

In the next year, a new GOP will begin to take shape, one that could make significant gains in the congressional elections of 2010, but only if it takes key steps quickly and commits to core reforms completely.

I have spent a lot of radio time on the subject since the election, talking on-air with, among others, former Govs. Mike Huckabee and Mitt Romney, Rep. Eric Cantor (R-Va.) and former Bush adviser Karl Rove, The Weekly Standard’s Fred Barnes and Charles Krauthammer, would-be RNC chairmen Michael Steele and Saul Anuzis, and three of the GOP’s brightest tech gurus on the technology gap that currently yawns between Republicans and Democrats.

The diagnoses are so many, and the proposed cures so varied, that I have written a book that will be published soon by Townhall that collects all the best of the thinking, but a summary has to begin with the obvious fact that what we had here, to quote the captain in “Cool Hand Luke,” was a failure to communicate. A massive failure to communicate. Continue reading . .

Hunter Shoots Buck, Buck Kicks Hunter’s A**

This is funny, you’ve got to Watch the Video

Originally found this on Pat Dollard’s Blog