Krugman: Hasty Fiscal Fix to the Deficit Would Cause ‘Austerity Bomb

December 6, 2012 7:00pm by Barry Ritholtz

Though Republicans claim $2.2 trillion would be saved by their plan for long-term deficit reduction, economist Paul Krugman calls it a “vapor plan,” with few details on where savings will come from. Gwen Ifill talks to Krugman about why he thinks reducing the deficit too fast could push the economy back into recession.

Watch Krugman: Hasty Fix to Deficit Would Cause ‘Austerity Bomb’ on PBS. See more from PBS NewsHour.

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