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Biden: ‘We misread how bad the economy was’

Posted on Sunday, July 5th, 2009 and is filed under World News. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

WASHINGTON (AP) — Vice President Joe Biden says 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,” says the nation’s 9.5 percent unemployment rate is too high. He says there will be more jobs created in coming months. Biden noted that the $787 billion stimulus package was set up to spend the money over 18 months. Major programs will take effect in September, including $7.5 billion for broadband Internet service, along with new…

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