aus·ter·i·ty noun \ȯ-ˈster-ə-tē, -ˈste-rə- also -ˈstir-ə-\ : a situation in which there is not much money and it is spent only on things that are necessary
Just so you know, every year of the Obama Administration, including 2013, the Federal budget deficit as a percentage of GDP exceeded the previous post-war high. This is the "age of austerity" that the president wants to end:
