After Cory Booker went out and undermined some of the recent attack ads by the Obama campaign during his appearance on Meet the Press this weekend, and President Obama's defense of those attacks, telling reporters that the issue is not a distraction but instead critical to evaluating Mitt Romney's qualifications to be president, Paul Krugman agreed during his appearance on Current TV's The War Room with Jennifer Granholm.
Nobel Prize-winning economist and New York Times columnist Paul Krugman joins Jennifer Granholm in The War Room to discuss candidate Mitt Romney. Krugman says, in spite of his protestations, Romney’s business career is fair game. “Yes, he made a lot of money. He made a lot of money in ways that were often not good for workers.” Krugman points out that what made Romney an effective businessman may be the opposite of what’s needed from the leader of a country: “What a President needs to do is not what you need to do if you’re trying to make a bunch of money for private equity for investors.”
Krugman also pointed out the need for more stimulus spending right now to get the economy out of this depression we've been in:
Krugman, a Keynesian economist, said the United States should be spending more money now rather than trying to slash its budget to make up for lost revenue. The country should reduce the deficit once it had a stable economy.
“Slashing spending at times like these is a terrible thing, it makes the economy much much worse,” he explained.
“I think the way to phrase it is, this is not a stimulus — although it is — but as a ‘we need those school teachers, we need those fire fighters, we need those police officers.’ We are starving essential public services. There are potholes in our roads.”