Krugman Comments on GOP Fiscal Cliff Proposal

Says the plan "sounds serious because it hurts vulnerable people"

In an interview with PBS' Gwen Ifill on Tuesday, Nobel Prize-winning economist Paul Krugman tore into the GOP's fiscal cliff proposal and launched a spirited defense of President Barack Obama.

Krugman explained that Obamacare has done more to bring down entitlement costs than anything Republicans have proposed. "In Washington, that is considered not serious because he's not actually taking benefits away from people who need them. It's a really weird thing. It's only considered serious if you inflict pain on vulnerable people," he said, referring to the recent GOP proposal to raise the Medicare eligibility age.