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The Veep sat down with Stephanopoulos recently and shared some sobering news about our economic health and how their projections and predictions were too rosy.

“The truth is, there was a misreading of just how bad an economy we inherited,” said Biden, who is leading the administration’s effort to implement it’s $787 billion economic stimulus plan.

“Now, that doesn’t — I’m not — it’s now our responsibility. So the second question becomes, did the economic package we put in place, including the Recovery Act, is it the right package given the circumstances we’re in? And we believe it is the right package given the circumstances we’re in,” he told me.

So what now?

I discuss over at True/Slant.