I don't know about Jimmah, since I didn't listen to him then anymore than now. I do now that the termostat and belt tricks have worked for me in the past just as they do now.
Yes, my family has also had to cut back at times when the money flow was tight. As do most families at times.
It's the collective "we" that worries me...when the whole nation is told to cut back.
Thank God for Ronald Reagan who was into growing the economy, not cutting back on it like Carter lectured us about. This, in turn, allowed our military to prosper with increased funds and grow stronger to fight, not cut back and grow weaker.