Paul Krugman: Sequester ‘was designed to be stupid’

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“This was designed to be stupid,” Krugman said. “The whole point was, this was supposed to be a doomsday device that would force the [Democratic and Republican] parties to reach an agreement. Of course, they didn’t, and here it goes.”

While the effect of the spending cuts would take time to manifest, Krugman told Schultz, they would definitely be felt by late 2013.

“This is exactly what the doctor did not order,” he said.""

http://www.rawstory.com/rs/2013/03/01/paul-krugman-sequester-was-designed-to-be-stupid/