Vice President Joe Biden said 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,” said the nation’s 9.5 percent unemployment rate is “much too high.”
“The figures we worked off of in January were the consensus figures and most of the blue chip indexes out there,” Biden said.
“We misread how bad the economy was, but we are now only about 120 days into the recovery package,” Biden added. More jobs will be created in coming months, he said.
