Leave it to Paul Krugman to rain on everyone's parade

Nobel Prize-winning economist Paul Krugman may not be "Dr. Doom," but like many of his colleagues he has a pessimistic view of the economy.

In a speech Wednesday in Slovenia, the New York Times columnist offered a dire assessment of the U.S. economy, predicting that unemployment will peak in 2011 only after a "slow and painful" recovery from the worst economic crisis since the Great Depression, according to Reuters. Most economists have argued that the current unemployment rate of 9.7 percent, a 26-year high, will hit double digits before the end of the year, underscoring fears of a jobless recovery.