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 classic literature ?
She is a daughter of earth; you are an angel of heaven; only be not too austere in your divinity, and remember that I am a poor, fallible mortal.
I soon became acquainted with the whole fraternity of sharpers, and was let into their secrets; I mean, into the knowledge of those gross cheats which are proper to impose upon the raw and unexperienced; for there are some tricks of a finer kind, which are known only to a few of the gang, who are at the head of their profession; a degree of honour beyond my expectation; for drink, to which I was immoderately addicted, and the natural warmth of my passions, prevented me from arriving at any great success in an art which requires as much coolness as the most austere school of philosophy.
Right here, I think, entered the austere conscience of my Puritan ancestry, impelling me toward lurid deeds and sanctioning even murder as right conduct.
Even Miss Pinkerton, that austere and godlike woman, ceased scolding her after the first time, and though she no more comprehended sensibility than she did Algebra, gave all masters and teachers particular orders to treat Miss Sedley with the utmost gentleness, as harsh treatment was injurious to her.
A barely furnished man's room, comfortable, austere, scholarly.
Razumov looked at them with the contempt of an austere believer for the frivolous crowd.
I do have a problem with providing everywhere with a Christmas tree and lights in these austere times.
Mr Underhill, who was second-in-charge in the Sarah Payne child murder case, said: "The police family in Dorset is living in austere times with a shrinking budget and workforce.
We don't believe for a minute that fashion is going to turn all austere, that consumers are going to start dressing all in black," Pascaline Wilhelm, fashion director at textile fair organizer Premiere Vision, told
At Thursday's TribLive conversation, I interviewed Lance Armstrong about the need to protect cancer research funding in austere times and his advocacy on behalf of an indoor workplace smoking ban.
A Non-Eliminative Understanding of Austere Nominalism, PHILIP GOFF
Buildings are compact, timber framed and utterly austere in form and furnishings, symbolising the importance of a modest life to Buddhist teachings.