Krugman Has Low Expectations For Europe and US Economiies

Paul Krugman explains why the approach that Europe is likely to take will make things worse for the crisis states. He believes that recession is Europe is almost certain and that will exacerbate debt to GDP ratios. He is also concerned that the deficit and inflation hawks in the US are winning the battle against those who are primarily concerned about unemployment and doing what is needed to prevent more foreclosures in the housing market.