The Euro/dollar loss and the true interest rate are separated by one level of differentiation. I wouldn't think that could be the answer.

Tionesha Chitlin? Clint Whitbread? Huh??

I don't think that increased deficits and increased government spending are joined at the hip. Although tax increases are more often suggested to soak up loose money during inflationary periods, I think that judicious reshaping of the tax curve allows taxes to be used when the economy is either overheated or tepid. I can't help thinking that Keanes must have noticed that too.