Krugman: ‘We’re not headed for Great Depression II’

By David Edwards
Sunday, December 28, 2008 18:12 EDT
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Economist Paul Krugman told CBS News that the current recession wouldn’t lead to another Great Depression.

“Really, the only reason that we’re not headed for Great Depression II — at least I don’t think we are — is that we think we learned a few things since then. So we’re not trying to balance the federal budget in the face of a recession. But this is big stuff. This is the worst thing, you know, in two lifetimes,” he said.

This video is from CBS’s Face the Nation, broadcast Dec. 28, 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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