For the past six years, the West has believed that monetary policy can save the day. The crisis led to huge budget deficits and rising debt, and the need for deleveraging, the thinking goes, means that fiscal policy must be shunted aside.
过去六年来，西方认为货币政策可以充当救世主。危机导致了巨大的预算赤字和增加的债务，这一思维认为，去杠杆化的需要意味着财政政策必须靠边站。