What is the correct approach: belt tightening or more spending?

Ateneo Professor on Entrepreneurship

From Newsmax by Audrey Hudson | May 28, 2013

There are some news that a group of Harvard scholars and writer Paul Krugman are at odds, at personal level on their position on the debt level issue.   The Harvard scholars suggest cut in spending (which is the prudent thing to do; and which IMF continues to prescribe for countries in debt).   Fasting after over indulgence.

However Krugman prescribes continued spending for the economy to grow (as what Bernanke and other economists prescribe)  Many liken this to an ICU treatment:  you feed give IV treatment medicine to a sick man.

Which side are you on?  Is the country that over indulged in debt due for liposuction?

Or is not breathing or lacks blood in an ICU?

Will the Reps force shut down of the US government?

Ateneo Professor on Entrepreneurship

From Newsmax health

US Senate House Minority Floor Leader Mitch McConnell does not rule out the possibility of shuttering the US government given the size of the US Federal Govt debt ($l6.2 trillion) almost the size of its GDP.  He said this in the TV interview last Sunday at NBC "Meet the Press".  This may be resorted to force the US president to address the issue of spending.

He said that it is not the issue of taxing more or less, but spending cuts.  The government spending has ballooned in the last 4 years.  He is the President, not Romney and he must face this issue squarely

Shutting down the US government not being ruled out