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Instead, Mr. Greenspan offers platitudes about spending restraint: "I would prefer to find the situation in which spending was constrained, the economy was growing and that tax cuts were capable of being initiated without creating fiscal problems".
This points to the importance of creating fiscal space in "good times" to be able to accommodate negative shocks.
What Gruber revealed, however, is when it comes to creating fiscal illusions, the PPACA is in a league of its own.
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This year, it will create 1,200 exabytes.
Copy created November 2014.
Description: Audio CD created March 2006.
Construction, it says, will create 1,500 jobs.
The investment will create 3,000 jobs.
Today's breakthrough creates tomorrow analytic opportunity.
A 1930s-style ecreatescreates 1930s-style politics.
The project will create 1,350 jobs.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com