ABC News’ Karen Travers reports: At a fundraiser in New York City today, Vice President Joe Biden said the upcoming midterm election is “more important” than the presidential election in 2008 because if the Democrats lose the majority in Congress, the progress they made will be reversed by the Republicans. “This is a real important election,” he said according to a pool reporter who was allowed into the event. “It’s more important than the one that got Barack and me elected, it literally is.” Biden said that is because after two years of a Democratic White House and Congress, the country is “starting to head in the right direction” and a change in power will stop that progress. If Obama had lost in 2008, “there at least we would have continued to drift another four years, which would be bad. Now at least we’ve stopped the drift and are starting to head in the right direction,” the vice president said. “If we lose in the House or the Senate, we’re now in a position where we are in a stalemate and this thing is just going to go in reverse and our most powerful weapon will be a veto pen, and that’s bad.” Biden’s remarks came at fundraiser for Rep. Tim Bishop. The event was the Vice President’s 101st campaign event of this election cycle.