Krugman: $10 trillion available for economic rescue

By David Edwards
Tuesday, December 2, 2008 10:18 EDT
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Princeton economic professor Paul Krugman told ABC’s Good Morning America that the U.S. economy could afford up to $10 trillion in stimulus programs.

“How much money can the government spend in rescuing the economy? The answer is alot. It’s not unlimited. You know, a trillion here, a trillion there and soon you’re talking about real money. Advanced countries with stable governments — which is us — can borrow up to 100% more than that of GDP and you work that out and we probably have $10 trillion of running room if we have to use it. I don’t want to get there but we’ve got a long ways to go.”

This video is from ABC’s Good Morning America, broadcast Dec. 2, 2008.

Download video via RawReplay.com

David Edwards
David Edwards
David Edwards has served as an editor at Raw Story since 2006. His work can also be found at Crooks & Liars, and he's also been published at The BRAD BLOG. He came to Raw Story after working as a network manager for the state of North Carolina and as as engineer developing enterprise resource planning software. Follow him on Twitter at @DavidEdwards.
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