Speaking at Penn, Nobel Laureate Krugman Says the Stimulus Package Lacks Punch
Paul Krugman, who won the 2008 Nobel Prize in economics, and who is a columnist for The New York Times, said at the University of Pennsylvania yesterday that the stimulus package signed this week by President Obama falls far short of what’s needed to jumpstart the economy. Why? The $789 billion plan will replace less than a third of the spending gap caused by the recession. The plan may generate 3.5 million jobs, but they won't amount to a net gain in the face of a recession that is eliminating 20,000 jobs a day in the U.S., he asserts. Click here for more on Krugman's comments.