Nobel Prize-winning economist and New York Times columnist Paul Krugman took aim at one of Mitt Romney’s main talking points on Monday, claiming that his experience as a businessman would not help him as president.
“Yes, he made a lot of money. He made a lot of money in ways that were often not good for workers,” he said on The War Room with Jennifer Granholm.
“And it is also totally important to point out, as President Obama just did, what a President needs to do is not what you need to do if you’re trying to make a bunch of money for private equity for investors.”
Krugman, a Keynesian economist, said the United States should be spending more money now rather than trying to slash its budget to make up for lost revenue. The country should reduce the deficit once it had a stable economy.
“Slashing spending at times like these is a terrible thing, it makes the economy much much worse,” he explained.
“I think the way to phrase it is, this is not a stimulus — although it is — but as a ‘we need those school teachers, we need those fire fighters, we need those police officers.’ We are starving essential public services. There are potholes in our roads.”
Watch video, courtesy of Current TV, below: