Detailed text transcripts for TV channel - MSNBC - 20120614:11:12:00
That's very challenging. >> so you talk about $650 billion spent in short-term stimulus spending. a lot of people out there would say that's reckless, irresponsible. it could never happen. but, explain how if that stimulus spending is coupled with a long-term debt plan, to take down the debt over a generation, how the markets not only would free up those $650 billion, but they couldn't write the check quickly enough for it? >> exactly. >> they would rejoice. >> the austerity folks are getting it wrong in the sense that they're imposing immediate deficit reduction and that's disastrous for econ...