Paul Krugman

@paulkrugman ↗

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Last Checked Sept. 13, 2020

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Fri Aug 14 10:49:40 +0000 2020

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Paul Krugman @paulkrugman

From the CBO: Huge fiscal support for families in business last month, almost all of it disappearing 2/ https://t.co/L6FNUliHtl — PolitiTweet.org

Posted Aug. 14, 2020

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Paul Krugman @paulkrugman

I don't understand why more people aren't freaking out about the fiscal cliff. State and local governments, with the prospect of aid receding fast, are on the verge of huge cutbacks 1/ https://t.co/RcW0ywbaJt — PolitiTweet.org

Posted Aug. 14, 2020

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Paul Krugman @paulkrugman

My back of the envelope says consumer spending cuts ~ 3% of GDP coming, plus S&L govt cuts of ~1% of GDP. That's a negative demand shock of 4% of GDP, probably with a substantial multiplier. This is financial-crisis level stuff 3/ — PolitiTweet.org

Posted Aug. 14, 2020