paul krugman. did you hear a path? did you see a plan? >> yes. if you're serious about the deficit there are two things you have to do. you have to reign in health care costs and that means having a process for bringing health care costs down. it relies on independent experts to set a target for medicare costs and look for things-- ways to save money, which is the way it's going to happen. it's not going to happen through some magical process of invoking the free market to solve all our problems. and you also have to get serious about revenue. there's no real way you can do this without having some additional revenue, and the president's proposal was-- had both of those things. i think it relied a little too much on spending cuts and should have had more for revenue, but this was a serious proposal whereas in fact the republican plan released last week was a joke. it was full of unexplained sources of revenue, and spending cuts that are never going to happen, couldn't happen. so this was actually a much more serious proposal, not ideal, but much

us social security and the great society which gave us medicare and medicaid so what is it that paul krugman knows that the rest of us don't. let's take a look at the so-called people's budget proposed by the progressive caucus first the bottom line this budget reduces our deficit by five point six trillion dollars that includes one point seven trillion in spending cuts and three point nine trillion in more revenue where do these cuts come from simple the department of defense the people's budget ends our foreign wars brings our troops and clogs up a black hole of defense spending that is not actually making our nation any safer and with these new savings the budget invests more than one point four trillion dollars into a brand new jobs program that focuses on job creation education clean energy broadband infrastructure housing research and development basically unleashing the twenty first century redevelopment of america that's long overdue and putting tens of millions of people back to work to make it happen the president's budget and the republicans budget do nothing about our foreign war

people's budget and it was the subject of paul krugman sunday op ed in the new york times in which crewmen said the only major budget proposal out there offered a plausible pam plan path to balance in the budget is the one that includes significant acts increases the people's budget from the congressional progressive caucus which unlike the ryan plan which was just right wing orthodoxy with an added dose of magical thinking is genuinely courageous because it calls for share at sacrifice as kirkman points of later when people's budget is projected to yield a balanced budget by twenty twenty one and the proposal achieves this without dismantling the legacy of the new deal which gave us social security and the great society which gave us medicare and medicaid so what is it that paul krugman knows that the rest of us don't let's take a look at the so-called people's budget proposed by the progressive caucus first the bottom line this budget reduces our deficit by five point six trillion dollars that includes one point seven trillion in spending cuts and three point nine trillion in more revenu

and of paul krugman is an economist of the people and not a corporate shill trying to advance failed supply side economics i think it's time we listened to him more off the bat juan williams the pock so-called news contributor who received a major boost within the network after n.p.r. fired him finally got his dream gig guest hosting the o'reilly factor and williams didn't disappoint his bosses he went after president obama on the show the show's opening to be. president obama is in as a warrior chief is that smart or cynical politics. in this is coming from the supposedly liberal on fox news but leave it to fox to create another fake war the war on the rich drills after a after all what else can they hype. the other eleven months of the year with a war on christmas is not the way oh yeah bill o'reilly just had a war on easter last week anyway very very. a goodly rick santorum trump is courting the burglars santorum is courting the homophobes the likely republican presidential candidate went after gay marriage over the weekend is a culture war time already asked whether or not gays d

people like paul krugman have been trying to get us to realize how well has been so concentrated in such a small group of folks. what strategies could be used to attack this minority of individuals in a way that foundations and charities did in the past? if we had a few people, and quite a number of them at an immense amount of wealth, why are we not having them at the new macarthur foundation's and the people who will finance this community journalism? there should be a way of strategy and a mindset where they can help reduce the public interest journalism of the future -- help produce the public interest journalism of the future. >> you are seeing that from some of the wealthy. you have bill gates doing fantastic things. msn and msnbc sprang from microsoft. rupert murdoch, for all the criticism he gets, is invested in the media and innovation. mike bloomberg is doing a ton of stuff through his company. they are hiring hundreds of people. i worked at bloomberg 15 years ago, and i was in europe as a foreign correspondent. there were 40 journalists, and now, there are thousands. i think i

on the opposite side, paul krugman says it is mean-spirited ness. >> we have to deal with entitlements. nobody else is saying it, he said, and he deserves credit for it. on the other hand, it has problems. his goal is to a 18% of gdp revenue. that is not enough. we are going to have to face up to that, but he doesn't. >> it also it does absolutely nothing about the cost of health care. to pick up what evan just said, president reagan function with taxes at 22% rate of gdp, not 18%. we didn't have twice the number of baby boomers, which we do now, going into retirement, using medicare, medicaid, all those things. when you look at those as the numbers, you see is a much more daunting task. the ryan budget would have no money for bridges, no money for kids, no money for most things. >> who benefits most from the ryan plan? >> america at. it prevents us from going off the cliff. it ds taxefor even obama supports it, but he will not propose a plan. it also recapitulates the 1996 a form of welfare, which clinton did, by applying the same new incentives to non- cash welfare. it attacks agricu

beyond that, and these programs are important, is that this will not work economically -- you have paul krugman, all the best economists in the country saying that by cutting spending, all you are going to do is increase the deficit. they are doing exactly the wrong thing at the wrong time. this is basic keynesian economics. even though the stimulus was very active -- very controversial, we would have 12% unemployment today if we have not done that stimulus package. and the tax cuts help as well. that is basic keynesian economics. what do you do when you have an economic problem? you cut taxes and increase spending. when you see what is happening at the state, that is $125 billion to $150 billion. and when we cut here, that adds to it. fuel prices make it harder for people to have consumer purchasing power. i think they are doing the wrong thing from an economic perspective. most of the economists i talk to say the cuts in 2013, and maybe you do it in 2012, and 2013 is the first year they should go into effect. but these people have just got tunnel vision here, and they are not looking at the e

keynesianism that's been in place since world war two that's been a huge failure there's nothing paul krugman is a huge flopping non-sensical dirtbag over there at the new york times who makes no frickin sense well you know that as i said this quote is from eric sprott he's a big buyer of silver and he's just saying that a lot of people like joe wiesenthal also had a headline talking about silver in a bubble and they're just getting it all wrong you're not looking at it that we're in a new paradigm shift and that brings me to this final headline coming back today i am math banks face three point six trillion dollar wall of maturing debt i.m.f. says so the world banks face a three point six trillion dollar wall of maturing debt in the next two years and they must compete with debt laden governments to secure financing the i.m.f. warrant last week but for thirty years all these governments have been extending the maturity and now like the tide moving out during a tsunami those on the beach. i think that oh my goodness look at all these pretty shells i'm going to wade out into the areas there an

budget and the republican budget the answer actually is no on sunday nobel prize winning economist paul krugman used his op ed to endorse the progressive budget plan this is from the in the house progressive caucus also known as the people's budget the nobel prize winning economist wrote a new york times quote the only major budget proposal out there are in a plausible pant plan to balance in the budget is the one that includes significant tax increases at people's budget from the approach congressional progressive caucus which unlike the ryan plan which is just right wing orthodoxy with an added dose of magical thinking is genuinely courageous because it calls for shared sacrifice so given that the progressive plan ends our foreign wars achieves a budget surplus by twenty twenty one. way faster than either of the president's or the publicans plan and does all this without sacrificing medicare medicaid and social security is a painfully obvious that the best way forward for america is the progressive budget no actually you know that's why we're getting our wars to keep intact their social safet

study, to leading economist paul krugman and jeffrey saks who point to speculators. and richard branson whose airline pays more because of speculation. little debate except among the spectators themselves. >> they're all wrong and they've offered opinion and no fact, no facts at all. >> reporter: so, in effect, we're paying for an oil crisis today that may never happen but wall street thinks will. diane. >> and the fact that there's still plenty of gasoline and oil out there. thank you, jim avila. >>> of course, the rising price of gasoline may be fueling something else tonight. the insurgent presidential rumbling from donald trump, who is now running a very serious first or second in the republican race. the latest poll showing trump beating huckabee and romney. george stephanopoulos sat down with trump earlier today. george, good to see you. >> it was a feisty afternoon with donald trump. and, diane, top gas prices are the issue right now. he had some have dramatic solutions. he suggests taking away our security guarantee for saudi arabia and, even more radical, co

ifill: tomorrow, we'll get reaction to the obama plan from economists douglas holtz eakin and paul krugmanill to come tonight on the "newshour": paul solman on the coming debt ceiling debate; gas prices spike again; the standoff in libya and health hazards for iphone workers. but first, the other news of the day. here's hari sreenivasan. >> sreenivasan: the u.s. economy has improved in every part of the country this spring. the federal reserve released the findings today, in its regional survey. on wall street, the news helped stocks recover from early losses. the dow jones industrial average gained seven points to close just under 12,271. the nasdaq rose 16 points to close at 2,761. in pakistan, intelligence officials reported u.s. drone aircraft killed six suspected taliban fighters today. the officials said drones fired seven missiles in a forested region of south waziristan near the afghan border. pakistan's spy chief met with c.i.a. director leon panetta on monday, and reportedly asked for new limits on the missile attacks. former egyptian president hosni mubarak has been detained as

here to make sense of it all, our "roundtable" with george will, paul krugman, torie clark, the formertagon spokeswoman in the bush administration and david ignatius from "the washington post." great to see you all here. so, the jobs numbers, good, right? >> this is better than naught. better than no jobs. unemployment is a funny number. unemployment, you're only considered unemployed if you're actively looking for work. over the past year, the unemployment rates have come down a lot. but that's basically almost all because fewer people are looking for work. >> where is it heading? in terms of the people looking for work? >> it's still terrible. it's a terrible job market. it's not deteriorating. but it's still a very -- there's still about five times as many people looking for jobs as there are job openings. the average length of unemployment hit a new record. so we're in a situation where things are not getting worse, or at least not getting worse in all dimensions. >> is that good news? it's not getting worse. >> the good news within the news is that there are 14,000 fewer people wo

paul krugman's blog on january 8th and then january 9th, he blogged something to the effect of -- we don't have proof yet that this was political but odds are, that it was. and there were other journalists who took their cues from that. i'm concerned about the tone of civic and civil discourse in this country. and i think that the tea partiers are probably -- have more violent rhetoric but the progressive and liberal side have their open problem with this and i can quote you right now frank rich who, you know, calls, you know, americans who wouldn't take on the issue of torture in gitmo good germans who called john ashcroft the best goerbles of them on and committed religious believers with islamic extremists, maureen dowd who equated the male domination of the catholic church to the taliban. who said that because christian -- the christian right was gaining force during the bush administration that, god, we really are in a theocracy. the arizona shooter -- the arizona anti-immigration or anti-illegal law was met by linda greenhouse with an image that came out of nazi germany. so, yo

study on the speculative bubble to leading economists, paul krugman and jeffrey sachs, who point to speculators whose airline pays more because of speculation. little debate except among the speculators themselves. >> they're all wrong and they've offered opinion and no fact, no facts at all. >> reporter: in effect, we're paying for an oil crisis today that may never happen but that wall street thinks will. jim avila, abc news, new york. >>> the white house says a major credit agency's warning about the deficit is no big deal. standard & poor's downgraded its outlook for the u.s. government from stable to negative. the s&p announcement sent the financial markets into a tizzy. but a white house spokesperson says the administration is confident it will reach an agreement with congress and cut the deficit. >>> worries about the economy though are dragging down the president's approval ratings. according to our new abc news poll, 47% approve of the job that mr. obama is doing, but that has fallen 7% since january. among the factors, driving those numbers lower are economic concerns. particularly as

host: paul krugman wrote yesterday on his blog. guest: markets respond to signals.t that it looks as if the president and the congress will be in a stalemate for the next 18 months, that cost s&p to do the downgrade. because the market to drop. the dollar continues to weaken. i disagree with that. i think waiting for another 18 months only makes matters worse. i do not think we have that much time. greece, portugal, and ireland but they have all the time in the world. when they lost credibility in the markets and people with ninth -- and people would not buy their bonds, we was out very quickly. we are not immune to these pressures. even though we are the greatest nation via world, laws of economics apply to us. host: some said the market was comforted that washington could come together on some sort of an agreement. guest: of course, you do not look at any one-day or two-day or three-day fluctuation in the market and try to override what that means. clearly, the markets are nervous. some have said that s&p could be followed by moody's. the international monetary fu

host: paul krugman writes this morning -- host: lincoln, neb., independent color. good morning.aller: thank you for taking my call. i have been listening to you all of the time. i have heard these congressmen calling in and they have not said what ought to be said, if u.s. me. have you ever heard of downsizing? that is exactly what is happening. we are in the middle of downsizing. how in the world did we get here? eight years ago we were flush with cash. i was listening to a radio program and there was a union person up there that said that $7 trillion have left our economy and gone to fund other countries' economies. we are downsizing these guys. they passed these trade deals and they did this mess on purpose. 140,000 businesses left the country? these billions of people lost their jobs? they have no way of making ends meet? the money is done, the economy is shrinking, they sat there and watched this unfold and did absolutely nothing. i say that they are derelict in their duties. every one that allowed this to happen needs to go. for those businesses that threaten us with movin

host: paul krugman wrote yesterday on his blog. guest: markets respond to signals. the fact that it looks as if the president and the congress will be in a stalemate for the next 18 months, that cost s&p to do the downgrade. because the market to drop. the dollar continues to weaken. i disagree with that. i think waiting for another 18 months only makes matters worse. i do not think we have that much time. greece, portugal, and ireland but they have all the time in the world. when they lost credibility in the markets and people with ninth -- and people would not buy their bonds, we was out very quickly. we are not immune to these pressures. even though we are the greatest nation via world, laws of economics apply to us. host: some said the market was comforted that washington could come together on some sort of an agreement. guest: of course, you do not look at any one-day or two-day or three-day fluctuation in the market and try to override what that means. clearly, the markets are nervous. some have said that s&p could be followed by moody's. the international mon