Nobel Prize-winning economist Paul Krugman says the debt ceiling deal is a bad one, and that more stimulus — not cutbacks — is needed from the government. Krugman tells Bloomberg that “the economy is losing ground”, and thinks we’ll “bump along the bottom” but likely not go into another recession. Regardless of whether we see another recession by technical terms, he sees weak growth ahead, and says policymakers seem intent on repeating the mistakes of the 1930s.

[youtube=http://www.youtube.com/watch?v=wyg4OA-vTTY]