Provoked by the Vice President’s comment on Sunday that the Administration “misread the economy,” the Obama Administration is partway through an unplanned shift in their topline economic message. It is painful to see this transition play out in public as the…

The President and Vice President have this week sent mixed and confusing signals on the macroeconomic picture. It is hard to reconcile a “stay the course” strategy with (a) new bad data, (b) “we misread the economy” and © “we had incomplete information.”