So if an economy is allowed to fail as per Greece a few years ago the following had to happen...
Slashed Pensions and Wages: Public sector wages and state pensions were repeatedly cut, with some pensions falling by up to 40% over the course of the crisis.
Deep Public Spending Reductions: Budgets for health care, education, and public services were drastically reduced.
Massive Tax Hikes: Sales taxes (VAT) and income taxes increased sharply, alongside the introduction of new property taxes. [1]
Structural Reforms
Labor Market Deregulation: Laws were changed to make it easier to fire workers, cut collective bargaining power, and lower the minimum wage. [1]
Privatization: The government was required to sell off state assets, including regional airports, ports (such as Piraeus), and public utilities, to raise cash.
Market Liberalization: Regulations on closed professions (like pharmacists, truck drivers, and bakers) were loosened to increase market competition. [1]
(Copied from AI, but widely available).
This is what those of us who want cuts and less borrowing are trying to avoid. We are not just big meanies.