paper water
n.— «because DWR has historically been unable to deliver a substantial portion of the promised amount, this leaves the purchaser, often a municipal water district, holding a large amount of what is known as “paper water.” Paper water only exists on paper—in the contracts—and cannot be delivered.» —“C-WIN Demands Reduced Delta Pumping as answer to Delta Eco-Crash” by California Water Impact Network YubaNet.com June 4, 2007. (source: Double-Tongued Dictionary)
Further reading
If someone urges you to spill the tea, they probably don’t want you tipping over a hot beverage. Originally, the tea here was the letter T, as in “truth.” To spill the T means to “pass along truthful information.” Plus...
The emotional appeal of handwriting and the emotional reveal of animal phrases. Should children be taught cursive writing in school, or is their time better spent studying other things? A handwritten note and a typed one may use the very same words...