Basically the Republicans said we’ll blow up the world economy unless you give us exactly what we want, and the President said OK. That’s what happened… . We’re having a debate in Washington which is all about, “we’re going to make this economy worse, but are we going to make it worse on 90 percent of the Republican’s terms or 10o percent of the Republican’s terms?” And the answer is 100 percent.
Krugman: America is heading for a “lost decade” - War Room - salon.com