So Joe Biden misspoke again—that’s no surprise. But it is surprising that President Obama has decided to step in and correct him. When asked by NBC News’ Chuck Todd about Biden’s statement that “we misread how bad the economy was,” Obama said, “I would actually—rather than say misread, we had incomplete information. What we always knew was that a) this recession was gonna be deep, and b) it was gonna last for a while.” He also told ABC News, when asked about the stimulus, "There's nothing that we would have done differently. We needed a stimulus and we needed a substantial stimulus."