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You spent now, to spend later.
In other words, Medicare savings mean both more money available to spend now and the appearance of more money to spend later on Medicare.
The National Audit Office says this case of "save now, spend later" would save about £450m ($695m) in the first four years, but add £1.1 billion overall.European countries in any case struggle to generate much bang for their money.
"I don't know if there are major implications for the holiday," he said, but added, "It just means people have had a lot more to spend their money on now rather than having it to spend later in the year".
There are, actually, four: Trading money now for money later: people who want to save now and spend later can make win-win trades with people who want to spend now and save later.
That would mean advertisers will spend later in the year the ad dollars they intended to spend during the war, mitigating the negative effects on the industry's fledgling turnaround.
Similar(46)
It's a dollar that needs to be spent later.
If they put it into savings accounts, it may be spent later.
But Mr Krugman makes it seem like there's no tradeoff between spending now and spending later.
Monetary policy affects the choice between spending now or spending later and, for the cash-strapped, credit provides the bridge from the present to the future.
Unless political leaders can agree a lasting deal on welfare in the coming weeks, there is the very real prospect of a senior civil servant stepping in to take over departmental spends later in the summer, under tight financial constraints.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com