Vice President Biden Announces “We Misread How Bad the Economy Was”

In an interview that has gotten a lot of people talking, last night on ABC’s “This Week” Vice President Joe Biden admitted that the Obama administration "misread how bad the economy was.” He did go on to say that he stood by their stimulus package and that it would create more jobs as the spending pace picks up. However, with unemployment rates continuing to rise, many people are justly concerned over this admission. Check out the video of the interview below.

According to the Associated Press Biden went on to say “that the $787 billion economic 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, plus new money for high-speed rail and the nation's electrical grid.”