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.
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References in periodicals archive ?
Air Force's desire to use more austere, bare-base locations for future flying operations.
Given Plato's pervasive influence on subsequent philosophy and on Christianity, Zoller argues, the effects of austere dualism have been profound and pervasive--above all, in the denigration of women.
Taking the above into account, the gallery notes that even though the selection criteria for the pieces exhibited in Lush art in austere times were high, their selling prices don't exceed e1/4500, making art more approachable for everyone.
Although no official document on the 2018 Finance Law has reached the organisation, this position is a response to "information about the austere measures that will be taken by the government," FTDES said in a press release Thursday.
Due to the austere times the council is facing I believe it would be a wonderful gesture from the council for the time of year!
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.
He said: "We acknowledge it has been pretty bloody and conditions are austere but what has been underestimated by the Taliban is the sheer resilience, resolve and courage of the British Armed Forces.
In this study, McDermott investigates the austere style employed by four "minimalist" writers.
The lab's Air Vehicles, Human Effectiveness, and Sensors directorates here are working with three technologies that, when combined, will help Air Mobility Command pilots to land in remote and austere weather and field conditions.
Bostridge shares with Pears a certain learned and austere drama that's ideally suited for the dark and haunting Serenade for Tenor, Horn and Strings.
This year Mardi Gras is February 28, the fat and festive Tuesday immediately preceding the abstemious and austere Ash Wednesday that begins the holy season of Lent.