KRUGMAN: Right now, Mitt Romney has an ad blitz where he's accusing Obama of cutting defense spending, which is actually, you know, that's not really true, but and then he says and the reason this is terrible is it because it will eliminate jobs. So the Romney campaign's position is government spending can't create jobs unless it goes to defense contractors in which case it's the lifeblood of the economy...

PAUL: And that's an inconsistency. That's an inconsistency.

KRUGMAN: It's pretty major.

PAUL: And it's wrong. They are accepting Keynes with regard to military spending...

KRUGMAN: Weaponized Keynesianism.

There was a fascinating exchange on ABC'sRand Paul was on to promote his new book and also Mitt Romney, but Krugman nicely pulled out the problem of Romney as a " weaponized Keynesian ," which forced Rand to distance himself from Romney. Nice job Krug! Something Ron Paul and the rest of us have had a difficult time doing.Here's a transcript of the exchange: