Sunday, July 31, 2011

Paul Krugman on the Debt Deal (with video)

MEDIAite with video from ABC News (02:26):
Paul Krugman was very disappointed with President Obama and the Democrats for allowing the Republicans to frame the debt debate. Krugman insisted on the This Week roundtable, “from the perspective of a rational person, in other words, a progressive on this stuff, we shouldn’t be talking about spending cuts at all now.” Yet, according to Krugman, the “rational people” have now lost big time.

Krugman’s grim forecast, as a result of Republican-leaning “compromises” which focus on spending cuts, is that the American economy will experience worsening unemployment and general misery in the future. MORE...

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