Photo: AP Photo/J. Scott Applewhite
CNBC’s Squawk Box had a great interview with Warren Buffett, Alan Simpson, and Erskine Bowles this morning.You might know the latter two as the ones who led President Obama’s National Commission on Fiscal Responsibility and Reform. In other words, they’re two people who are intimately familiar with the workings of government debt.
Anyways, CNBC’s Joe Kernen took this opportunity to bring the three guests into his feud with Nobel Prize winning economist Paul Krugman. (You can read all about the feud here.)
Yesterday, Kernen seemed to get Krugman to agree that government spending at 50 per cent of GDP could be acceptable He asked the distinguished guests about this.
Alan Simpson had the most colourful response. From CNBC.com:
Well, Paul Krugman is a little hyper, and when this started for me, he said that I would never saw a spending cut I didn’t love, or some snide little crack. But I think he needs to rest. He needs some solace. He needs to sit in Sun Valley and someone hold his hand and say, “Poor, poor dea.” He just gave into ranting.
Read the more from the interview at CNBC.com.