The word austerity seems to have saturated world and national news of late, sometimes used in a positive vein, but often displaying a strong negative quality. One fellow in Greece insisted recently that austerity (as employed by his government) is a “crime.” I think most of us would agree that to be austere is simply to be moderate in one’s financial dealings, more temperate perhaps, self-restraining, or even self-denying.
When I was unceremoniously nudged into retirement by my employer a few years ago (at the same time our economy tanked) my wife and I quickly realized we had to seriously curb our spending to coincide with our severely reduced income. This is what intelligent people do, and this is what countries have to do as well. So I will gladly argue the point with the gentleman from Greece, that to limit spending isn't a crime, arguably it's a crime not to when times get tough.