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There were other tactics for sustaining spending, despite falling tax revenue.
That decline acted as a fillip to consumers, sustaining spending in particular in the middle years of this decade when real disposable-income growth slowed to a crawl.
What I said more recently is that aid to states was a way of sustaining spending, not increasing it — that it didn't amount to net stimulus if you look at government as a whole.
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As a result, subscription-based businesses were able to sustain spending on content.
"We're looking to have sustained spending and sustained revenues basically, more or less, together," Mr. Page said.
And these programs will also help sustain spending in the slump.
Permanent money-financed deficits would, in turn, provide a safer way to sustain spending than private-asset booms and busts.
The data indicates consumers are relying more on credit to sustain spending as income gains fail to keep up with inflation and as home prices drop.
Households may need to borrow more to sustain spending that climbed in the third quarter at the fastest pace this year alongside a drop in disposable income.
Previous efforts to pitch advertising have been concentrated on such issues as the value of building brands or sustained spending on campaigns.
It's the consequence of easy credit that led to reckless spending in the past — but the problem now is how to sustain spending; trying to encourage austerity at this point will just make things even worse.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com