Our current obsession with slashing the deficit is getting in the way of real work that needs to be done to preserve both our economy and our democracy. It’s all about jobs, Paul Krugman explains to Bill Moyers. The Nobel Prize-winning economist and New York Times columnist explains why our top priority should be getting America back to work – if only Congress and the President would stop throwing distractions in the way. He also details the catastrophic impact the economic downturn continues to have on average Americans, as well as avenues of hope and recovery. Krugman’s latest book, End This Depression Now!, is both a warning of the fiscal perils ahead and a prescription to safely avoid them.

Later on the show, Bill explains how last week’s fiscal cliff deal gave tens of billions in tax breaks to Wall Street and corporations -- what even the Wall Street Journal calls a “crony capitalist blowout.”

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