Austerity

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Austerity

A program in which a government drastically reduces spending and/or increases taxes or other revenue sources. A government launches austerity programs when their deficit and/or national debt become unsustainable. The IMF and the World Bank often require austerity programs in exchange for restructuring or refinancing a country's debt. Austerity is usually politically unpopular because it may involve cutting programs like food subsidies or national health care.
References in periodicals archive ?
As with relational nominalism, austere nominalism (1) denies that individuals (usually taken to be non-property items) intrinsically have any characteristics and (2) defines individuals as particulars (as nonuniversals).
Austere nominalism has often been taken to involve an outright denial of the existence of properties.
In this study, McDermott investigates the austere style employed by four "minimalist" writers.
The generation preceding the boomers had bone-deep memories of the Depression, attested by their austere economic habits.
Austere and absorbing, Escape is a convincing descent into a maelstrom of anguish and, ultimately, deadly despair.
That's when he falls in love with Trista Madison, an Aramco nurse who is as enthusiastic as Bud in wanting to explore this austere, beautiful country with its complex and sometimes contradictory culture.
I sipped champagne at Domaine Chandon, "oohed" at Godfather Oscars, tried Sophia sparkling wine-in-a-can at the austere Niebaum-Coppola Winery (as in Francis Ford), and learned about food and wine at Copia.
Lest my way of life sounds puritanical or austere," he wrote, "I always emphasize that in the long run one can't satisfactorily say no to war, violence, and injustice unless one is simultaneously saying yes to life, love, and laughter.
The Mobile Port Operations Center is getting an A+ for functionality, versatility and usability in a very austere environment," said Capt.
The flexible support provided from both naval sea basing and austere sites ashore and the ability to operate successfully in a joint or combined environment highlight the value of Marine Aviation's expeditionary capabilities.
The recently announced austere budget will keep public debt concerns at bay and a slowing decline in the exchange rate will keep inflation in check.
It can also stand on its own as storytelling at its best, describing a people, their austere life broken momentarily by the sheer beauty of their surroundings.