Krugman: It's Time To Put 'Delusional' Austerity Beliefs Behind Us

02/20/2012 09:26 am ET | Updated Mar 02, 2012
  • Paul Krugman The New York Times

Last week the European Commission confirmed what everyone suspected: the economies it surveys are shrinking, not growing. It’s not an official recession yet, but the only real question is how deep the downturn will be.

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