"Austerity" is defined as "the trait of great self-denial (especially refraining from worldly pleasures)." Austerity economics, on the other hand, is the practice of denying others things that they need while at the same time ensuring your own continued privilege and comfort.
It's the American Way.
Update:
Our pal the Ornery Bastard weighs in on the President's part in all this with "Quote of the Day III":
Do this at your own peril. When people start freezing to death in sizeable numbers, it is coming home to roost on your doorstep, fucking idiot.
One term President would be the best fucking thing to happen to you.
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