Paul Krugman: "Now Is The Time For The Government To Spend More"

"Look at what's happened in Europe. Look at how austerity policies have worked. Look at those countries, mostly not in the West, look at countries like South Korea that have had effective stimulus programs. We've had an acid test of different economic theories -- Keynesian economic doctrine. The economic doctrine that says now is the time for the government to spend more, not less, has been overwhelmingly confirmed by experience," economist Paul Krugman said on the Friday broadcast of MSNBC's "Hardball"

"We could end this depression now. We could end it fast, 18 months probably if we did the right thing, but nobody believes it," Krugman said.