In fact the way he's spun it, you'd think spending is still rocketing skywards.
But it is not just hotels, office blocks and holiday resorts that are rising skywards from the sands.
In the distance, limestone pillars spiral skywards, their pinnacles cloaked in cloud, and white mist drifts off the fields.
Standing at the 244m-high viewpoint, with the wind licking the jagged shards of glass that razor another 66m skywards, is both dizzying and enthralling.
In the CIA Directorate of Intelligence at Langley, Virginia, eyes will be rolling skywards as analysts work out the long-term damage to US intelligence.
Once this is achieved, a rocket swooshes skywards and more than 100 tonnes of ripe, squishy tomatoes are tipped from trucks to the waiting crowd.
Of course, he owes considerable gratitude to his market comparables (Drew Brees, Joe Flacco) who have recently pushed the salary bar skywards for quality starting quarterbacks.
It saw the Landsat-8 mission hurtle skywards on an Atlas rocket from the US Air Force base at Vandenberg shortly after 10:00 local time (18:00 GMT).
But the Swiss pulled it back to 3-3 and with one end to go - all hearts in the stadium were pumping as the tension levels rose skywards.
It has not escaped attention that Mr Miyazawa was in charge when Japan pulled out of recession in the 1980s and started to soar skywards in bubble fashion.
Along the coast path, walkers stroll through thickets of gorse, stopping occasionally to raise their binoculars skywards or peer gingerly over the cliff edge into the foaming waves 90m below.
Further north along the southwestern coast are the Skelligs, two islands that poke dramatically skywards out of the flinty waters of the Atlantic Ocean, nearly 12km off the Iveragh Peninsula in County Kerry.
America's ultra-loose monetary policy is partly responsible for reflating the world economy, but demand from China is also playing a part, since it has pushed the prices of everything from copper to shipping skywards.
Several factors have combined to today's decision to buy a short take-off and vertical landing version of the plane (the F-35B) rather than the more capable F-35C variant that would have required catapults to hurl it skywards.
BBC: Why did coalition government change fighter plane plan?
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