Biden vs. Obama on economy

Jim Geraghty:

Joe Biden, yesterday:

Big admission from Vice President Joe Biden today.

...

"The truth is, there was a misreading of just how bad an economy we inherited,"

The problem is that doesn't square at all with the rhetoric of President Obama, back on February 9:

My administration inherited a deficit of over $1 trillion, but because we also inherited the most profound economic emergency since the Great Depression, doing little or nothing at all will result in ever — even greater deficits, even greater job loss, even greater loss of income and even greater loss of confidence.

Those are deficits that could turn a crisis into a catastrophe, and I refuse to let that happen.

...

Geraghty also points out that Obama and Biden ran on the issue of how bad the economy was. Biden has a way of saying goofy things and this is just another example. What he cannot admit is that their prescription for dealing with the bad economy was economic malpractice. Increasing spending rather than decreasing taxes has not spurred the economy and will in the short and long term make things worse.