Klonopin, also known as clonazepam, is not really good for panic disorder over the long term. Although Klonopin can help to reduce anxiety and panic symptoms right away, the problem is that Klonopin and other benzodiazepines have significant side effects. The most serious side effect is that you can become addicted to Klonopin, as you can develop dependence and tolerance to its effects. Benzodiazepines are only meant to be taken as short term treatment for acute anxiety, and when the anxiety is suppressed, then the benzodiazepine should be discontinued and other primary treatments can take hold, such as CBT and SSRI treatment.