Krugman: $700 billion stimulus 'may not be enough' 2 Minutes 50 Seconds
Krugman: $700 billion stimulus 'may not be enough' YouTube link
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Subscribe4MoreNews
Created
November 24, 2008
Updated
January 2, 2009
Length
2 Minutes 50 Seconds
Rating
5.00
Views
6,992
Description
Krugman: $700 billion stimulus âmay not be enoughâ
By David Edwards
Princeton University economic professor Paul Krugman believes the Democratsâ plan for a new $500-700 billion stimulus package may not be enough to turn the economy around.
âIâm actually worried this plan may be too small. This is an enormous crisis. You got to hit it with an enormous stimulus to buck the economy up. Iâm still worrying theyâre going to be a little bit short. You just have to put your notions of what is prudent aside. Being cautious is actually a very foolish thing right now.â
Krugman is critical of Bush administration plans to bailout Citigroup. âThis is a lot of taxpayer risk in return for not much,â he said. âIt looks like a very sweet deal for citigroup management, very sweetdeal for citigroup shareholders, to the extent they have anything left. Not very good for the taxpayer. This was not good.â
This video is from CBSâs The Early Show, broadcast Nov. 24, 2008.