Polly: Is your café making any profit?
Josh: No, we’re just treading water. We aren’t falling into debt, but we aren’t making any money either.

Treading water means moving your arms and legs so that you don’t sink, but not swimming in any direction. It could be worse, if you were drowning. But you are not making any progress toward land, either.


「Treading water(立ち泳ぎ)」は沈まないように手足を動かしますが、どの方向にも進めません。溺れていないだけマシな状況ですが、陸に向かって進んでいるわけでもありません。