[dnu]

When a country is still spending more money than it earnes, can we call it "austerity"? I mean, if you have a salary of $100000, even if spend only $130000 instead of the usual $160000 you are still living above your means.

[pekk]

During WWII, we in the US were spending far above our means and there was widespread rationing. Yes, that is austerity.

The question is who will live more austerely for the sake of whose pocketbook, and what they will be made to give up.