- FBI Blames North Korea For Sony AttackPosted 20 hours ago
- VIRAL VIDEOS: Denver The Guilty Dog Strikes Again!Posted 1 day ago
- Highlights From The American Country Countdown AwardsPosted 1 day ago
- Jeb Bush To “Actively Explore The Possibility Of Running For President”Posted 2 days ago
- Insurance Industry Giving Affordable Care Act Customers More Time To Pay PremiumsPosted 3 days ago
- Boehner Responds To President Obama’s Immigration Plan [VIDEO]Posted 4 weeks ago
- AFMW: Comedian Sebastian ManiscalcoPosted 1 month ago
- FOX in the Fast Lane: Kicking Off The ChasePosted 3 months ago
- Obamacare Data Discrepancies Could Jeopardize CoveragePosted 6 months ago
Paul Krugman: Debt Deal Will Worsen Employment Picture
Krugman laid it out on ABC’s This Week (via PoliticusUSA).
…basically the Republicans [said] we’ll blow up the world economy unless you give us exactly what we want, and the president said, ok. That’s what happened.
We’re looking; I mean we used to talk about the Japanese and their lost decade. We’re going to look to them as a role model. They did better than we’re doing. This is going to go on. I have nobody I know who thinks the unemployment rate is going to be below 8% at the end of next year. With these spending cuts, it might well be above 9% at the end of next year. There is no light at the end of this tunnel, and the revenue debate in Washington, which is all about gee, we’re going to make this economy worse, but are we going to make it worse on 90% of the Republicans’ terms or 100% the Republicans’ terms and the answer is 100%.