How does an administration misread the economy? I am curious by the statement made by the Vice President. After all I thought the media glorified all of the economic advisors picked by this administration especially the Treasury Secretary (who obviously can not be bothered by paying taxes). I thought that according to the administration, the massive, unread stimulus package was supposed to create $1.50 in economic growth for each $1 spent. Anyone taking my basic economic classes would understand that this is not possible economically. Government at any level does not create economic growth nor does it create jobs which are economical to the taxpayer.
Taxpayers may now see the economic stimulus bill as what it really was, a way to create political leverage, payouts and pork along with a massive increase in the national debt. And with a net result of no new jobs, little if any economic growth and massive increases in taxes for the long run. The private sector is much better suited to create jobs not a massive pork stimulus bill. Again I ask, how does an administration misread the economy?