Obama Says “I Underestimated Magnitude of Recession” But a New Video Shows He Was Warned
Failed President Barack Obama told his twitter town hall audience yesterday that he underestimated the magnitude of the recession.
President Obama openly acknowledged underestimating the length and magnitude of the worst recession since the Great Depression in a response to a question during his Twitter town hall.
Always a tough question to answer, Obama was asked what mistakes he made in handling the economic crisis and what he would have done differently looking back on his first months in office.
Obama freely admitted that he would have tried to do a better job explaining “to the American people it was going to take a while to get out of this.”
“Even I didn’t realize the magnitude — because most economists didn’t realize the magnitude — of the recession until” it was many months into his presidency, Obama said Wednesday.
But that is not true…
Obama was warned about the magnitude of the recession before he moved into the White House.
Former White House Economic Adviser Christine Romer told an audience recently that she warned him about the depth of the recession before he took office in 2009.
Verum Serum posted the video:
Obama was warned – He just took the wrong action.