Definitions for "Austerity"
Plainness; freedom from adornment; severe simplicity.
economic situation when policies designed to reduce inflation, imports, government spending, etc. are in operation.
Higher taxes and more government spending and regulation (austerity for the people, freedom for government).
the trait of great self-denial (especially refraining from worldly pleasures)
Sourness and harshness to the taste.
Severity of manners or life; extreme rigor or strictness; harsh discipline.