would be stimulative in traditional Keynesian terms. It would be it would create inflation. That's what the hope has been, that the government would enact deficit spending and alleviate this balance sheet recession. That's what many people have been advocating for a while. Wasn't that at least a perspective? That was my perspective of expanding deficit by the Trump administration in order to enact policies of construction, et cetera, is that we might finally get that inflation that the Fed had been pushing for. What am I missing? I guess I would say, in general, you spend more, you borrow more, you have stronger economic growth, you grow above your potential. We economists like to throw that term around a lot. It's a really hard thing to measure. I would also say that looking ahead, one of the hopes was just you generate more growth, you sort of actually boost that productive capacity via, say, spending an infrastructure. That's where what you spend money on matters. There was a story (19/45)