Government not guessing correctly how a situation will develop? Unheard of!
Joe Biden told “This Week” that the Obama administration “misread how bad the economy was.”
He also the administration made this mistake because they just looked at the consensus forecasts at the time…and they proved to be wrong.
On the other hand, imagine how much more pork and bloat they would have laden TARP with if they thought it would be worse.
Morgan Stanley on the outlook for the economy.
The rise in federal healthcare outlays under Medicare and Medicaid is the main long-term factor boosting deficits.
Not So Fast 