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Biden: What's relevant on the economy is 'we're in charge'

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The nation's slow recovery from the recession that began in 2008 has been a drag on the president's approval ratings and his reelection chances.

Unemployment is at 9.1 percent, according to the Labor Department, and the economy's slow growth has many worried about the nation falling into another recession.

The Commerce Department did report Thursday that the nation's gross domestic product (GDP) expanded by a larger amount than previously thought, as it issued its third and final estimate for that period. The government previously put economic growth at 1.0 percent, while its first estimate in July put it at 1.3 percent.

Biden said that he understood why some Americans, especially the ones in states particularly hard-hit by the economy, are frustrated.

"And so I don't blame them for being mad. We're in charge — so they're angry," Biden said. 

Biden said the upcoming presidential elections would be a referendum on himself, President Obama and the economy. 

"Right now, understandably, totally legitimate, this is a referendum on Obama and Biden and the nature of the state of the economy," Biden said. "It's soon going to be a choice."