Budget Cuts Are ‘Bleeding’ the Economy

Trying to fix the economy with budget cuts reminds Paul Krugman of an outdated medical practice: bleeding patients. This “economic bloodletting” is supposed to boost confidence, but it’s a cure that just makes things worse. “Somehow, businesses and consumers seem much more concerned about the lack of customers and jobs,…

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Budget Cuts Are ‘Bleeding’ the Economy

Posted by on September 19, 2011. Filed under News, World News. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.