Vice President Biden, in humble contrition "confessed" that the Obama administration "misread" the depth of economic troubles it inherited. In doing so, in putting it into the terms he did, displayed a chilling lack of understanding of the economic landscape.
There seems no comprehension, and no mention, of how the cost of oil has encumbered the economy. Since February, or less than a month into the Obama presidency, the price of oil has doubled. It has moved quickly from some $33/barrel...
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