Excerpt
SUMMARY: Though Republicans claim $2.2 trillion would be saved by their plan for long-term deficit reduction, economist Paul Krugman calls it a "vapor plan," with few details on where savings will come from. Gwen Ifill talks to Krugman about why he thinks reducing the deficit too fast could push the economy back into recession.
GWEN IFILL (Newshour): And return to our series of conversations on what to do about the nation's taxes, spending and debt. Last night, we heard from Erskine Bowles, the co-author of a deficit reduction plan that has been the subject of much attention and debate.
Tonight, we get a very different take on this. Paul Krugman is a Nobel Prize-winning economist at Princeton University and a columnist for The New York Times. He joins us now.
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