Paul Krugman offered a harsh analysis of the Republican plan to deal with the "fiscal cliff."

"This is pathetic – and these people are definitely not serious," he wrote on Sunday.

According to Krugman, specifics offered by Senate Minority Leader Mitch McConnell just aren't enough to balance the budget. They also put seniors at risk, he said.

"What we’re looking at overall is a saving equal to only about one-fifth of what Obama is proposing to raise by higher taxes," he wrote.

McConnell told the Wall Street Journal on Friday that Republicans are seeking to raise to the Medicare age and modify Social Security. In return, they'd agree to an increase in tax revenue-- but not from higher tax rates.