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The Liberals, whom he ousted a year ago, bequeathed a robust economy and a large fiscal surplus.
That creates a large fiscal hole.
The federal government has a large fiscal surplus.
Mr Abe will brandish a large fiscal stimulus to try to counter the dampening effect.
"The markets are very skeptical about the consequences of a large fiscal adjustment in Spain, which I share," Mr. Chaney said.
In 2001, the economy was cushioned by a large fiscal boost, thanks to tax cuts and bigger spending, as well as much lower interest rates.
Similar(32)
Wetherell said that the final Commission report would reveal a larger fiscal hole than widely believed.
That's why we advocated a larger fiscal program than the one that passed.
It was entirely clear in the meeting where this was discussed that a larger fiscal program would have larger multiplier effects.
We still have a lot of problems (including a larger fiscal deficit than any core European country) and we need several years of solid growth to fix them.
These will not be easy: even with a write-down of around 70% of the debt's face value, Argentina might require a larger fiscal surplus.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com