Transcripts for CNN Fareed Zakaria GPS 20130602 17:39:00 : v

CNN Fareed Zakaria GPS June 2, 2013 17:39:00

you know, never mind the question. did they make the data available? well, other people, not in a way, that's all irrelevant. the fact of the matter is this one result, claimed result which is that growth falls off a cliff when debt exceeds 90% of gdp. that's what they picked up and that result is false. that result is clearly not true. there is a mild, negative correlation between debt and growth, but that cliff doesn't exist. never existed in the data and certainly isn't anything that anyone should believe now. that paper of theirs did a lot of damage by giving people who didn't want stimulus, who didn't want any kind of policy a way to scare their opponents to say, if we don't do it my way, we'll go over the 90% line and terrible things will happen. my problem now with carmen and ken while they have said a lot of things that indicate more flexibility, they have never, to

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