Summers v. Krugman: Will Stimulus Work?
President Obama's top economic advisor Larry Summers and Economics Nobel laureate Paul Krugman disagree on the likely effectiveness of the stimulus plan that passed Congress last week. While Summers pledges that the Administration will "do what is necessary," Krugman argues that the $800 billion stimulus will offset only one-third of the anticipated decline in economic activity. [watch Summers interview] [watch Krugman interview]