Spending Can Be Cut: Politicians Who Tell You Democracies Can't Slash Spending are Lying (Column‪)‬

WHEN TIMES ARE hard financially, families frequently let their credit card balance expand. But they also slash expenses to meet their new financial situation. They stop going out for dinner, for instance, or take their vacation locally instead of abroad. They might even downsize their house. When economies fall into recession, governments too tend to let their "credit card balances" expand: Their budget deficits explode. Slashing spending, though, is regarded as a step too far.