Dec 9, 2009

VP Joe Biden on the prospects for economic recovery

"We inherited one heck of a mess, as you well know. The GDP was a -6.3%, 740,000 people lost their jobs before I lowered my hand after taking the oath... We're making progress. The GDP's growing, we're going to be producing jobs by the beginning of next year, in the first quarter of next year... it took us a long time to catch up.
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Here's the deal, we have now, of that recovery act, we've been in business 7, 8 months, the one thing you haven't seen... is those big wasteful projects. No one has come up with anything like, 'You went out there and spent $2-million on something that didn't exist.'
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First of all, the kind of jobs we're trying to create are not make-work jobs. We're trying to build a new platform, Jon [Stewart], for the 21st century. We're investing in energy, we're investing in education, we're investing in healthcare... these are the kinds of things that are going to provide these guys with real, live jobs that aren't exportable, that are going to be able to be kept here
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Jobs are going to lag behind growth in this country from somewhere between 12 to 18 months... Everything is growing now... We'll be creating jobs by February or March of next year."

~Vice President Joe Biden, as appeared on Comedy Central's The Daily Show With Jon Stewart, November 17, 2009

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