While austerity makes no economic sense today, slowing entitlement spending over the long term seems clearly necessary.
But every month, the government sector—local, state, and federal agencies pinched by austerity—cuts employment.
Will the new Tory/Liberal government in England and its austerity measures affect the budget of the Old Vic?
mid-14c., "sternness, harshness," from Old French austerite "harshness, cruelty" (14c.) and directly from Late Latin austeritatem (nominative austeritas), from austerus (see austere). Of severe self-discipline, from 1580s; hence "severe simplicity" (1875); applied during World War II to national policies limiting non-essentials as a wartime economy.