Failing to Learn From the Past

With the dismal jobs report from May, Rethugs demand more spending cuts. Whether their motivation is strictly partisan sabotage or a basic lack of understanding economics, Rethugs and the cowardly Dems who allow the far-right to set the terms of debate would have us do precisely the opposite of what is needed to promote a healthy economy. Nobel winner Paul Krugman tells us why 2011 is looking like a repeat of 1937, despite ample warnings.