Paul Krugman, "End This Depression Now!" author, discusses the financial crisis that triggered the greatest downturn since the Great Depression and offers ways to move forward. Paul Krugman is professor or economics at Princeton University.
In this interview, he says we have to control how much we spend on entitlements and at the same time we will have to tax the super rich in order to control our debt. He said when the economy is good government should work on reducing its taxes. He was against the Bush tax cuts and unfunded wars during his tenure, which he thinks are the prime factors in driving U.S. debt to these high levels. He also believes that this is not the time to balance budgets (this economy) as that will throw the U.S. into a bigger hole.
Here is the video:
About the author:
I am an individual investor with deep interest in the field of value investing. My ideas and thinking is inspired by highly respected value investors like Ben Graham, Warren Buffett, Walter Schloss, Bill Ruane and Tweedy Browne
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