If public opinion believed that cutting the deficit was the right thing to do, then allowing the deficit to grow would annul any of its hoped-for stimulatory effect. Expecting that taxes would have to rise to “pay for” the extra spending, households and companies would increase their saving.
这一观点认为，凯恩斯主义药方忽视了财政政策对预期的影响。如果公共观点认为削减赤字是正确的事情，那么允许赤字增加将让一切希望发生的刺激效应泡汤。预期税收必须增加才能“支付”额外的支出会让家庭和公司增加储蓄。担心主权违约会让债券市场要求政府为其借款支付极高利率。