Biden Admits that He and Obama Didn't Know What They Were Talking About When They Made Those Promises of Hope and Change

Joe Biden admits that he and Obama didn't have a clue about the economy. So we're to believe they are the ones best prepared to fix it?

Vice President-Elect Joe Biden said the U.S. economy is in danger of "absolutely tanking" and will need a second stimulus package in the $600-billion to $700-billion range.

"The economy is in much worse shape than we thought it was in," Biden told me during an exclusive interview -- his first since becoming vice president-elect-- to air this Sunday on "This Week with George Stephanopoulos."

"There is no short run other than keeping the economy from absolutely tanking. That's the only short run," Biden told me.