这是错的，因为痛苦的资产负债表去杠杆化过程 — — 反映了私人部门的过度负债及其后负债向公共部门转移 — — 意味着即使在最好的情形下，复苏在未来多年内也打不到趋势水平。
That turned out to be wrong, as a painful process of balance-sheet deleveraging – reflecting excessive private-sector debt, and then its carryover to the public sector – implies that the recovery will remain, at best, below-trend for many years to come.