UK Telegraph: Obama says he failed to comprehend “the magnitude of the recession” the country was facing

UK TELEGRAPH: “The first question from a Twitter user was from William Smith, a conservative blogger in New Hampshire: “What mistakes have you made in handling this recession and what would you do differently?”

Mr Obama responded with a list of things he felt he had done right before saying: “I think people may not have been prepared for how long this was going to take and why we were going to have to make some very difficult decisions and choices.

“And and I take responsibility for that because, you know, setting people’s expectations is part of how you end up being able to respond well.”

He added: “I think that the continuing decline in the housing market is something that hasn’t bottomed out as quickly as we expected, and so that’s continued to be a big drag on the economy”.

[READ “Barack Obama takes to Twitter, admitting he failed to comprehend ‘magnitude of recession‘ ” at the UK Telegraph]

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