PAUL KRUGMAN: Well, here's a question. Sometimes in 2011, I'm afraid he was actually sincere and he had us all terrified. But right now I do believe, I hope but I believe it's political posturing, that this is his way of saying, 'I am a grownup.' The reality is that we should do nothing. The reality is that the best thing to do right now is to kick the can down the road. We should not be having any spending cuts right now. Close loop tax loopholes, fine, if we can do it. But the sequester is not serving any useful purpose that could be served better by something else. We should not be doing any spending cuts at all right now. (The Last Word, February 7, 2013)
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