November 19 2009

Biden on The Daily Show: Socialism for the rich, capitalism for the poor

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The interview Jon Stewart did with Vice President Joe Biden is getting a lot of buzz in the media and online.

The interview aired Tuesday, Nov 17 on The Daily Show with Jon Stewart and wasn’t all that revealing but contained one phrase that turned some heads.

Some called Biden’s performance “funny and informative,” but at one point Biden said that socialism was for the rich and capitalism for the poor.

He was addressing concerns that taxpayers have over the way financial institutions were pulled out of hot water to avoid a “great depression.”

“It’s socialism for the rich and capitalism for the poor,” Biden told Stewart.

“If we did not bail them out, we would have been in a position where there was a literal depression, not a recession,” Biden later told Stewart.

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