You cut back on stuff. You haven’t spent the money yet. Now times are hard. So, you cut back. It’s really a simple concept. You establish a priority of payments: Bonds, SS & Medicare, etc. The least important stuff gets cut. How much more simple can it be?
But you’ll pi$$ off a LOT of ‘voters’ that you are buying with the money that gets cut.
Can’t have that, there’d be riots in the streets.
Oh... wait...