It is one thing to assume that the Federal Reserve could in principle always lower interest rates enough to offset the depressing effects of tax increases and spending cuts.
Taxes and spending cuts could be offset by lower interest rates.
Lowering interest rates adds onto the effects of tax increases and spending cuts.
A dog stands.
A hiker is walking across a meadow of flowers on a sunny day.
The man is taking a photo of another man.
The women is standing along the river with her boat Savoie, throwing a rock into the water hoping it will reach the other side.
Two dogs play.
The woman was writing while music played