Tony Atkinson questioned why this policy tends to diverge so much from the 45/55 “expansion path.”Robert Barro proposed a defense of this policy based on Ricardian equivalence, which Giavazzi & Pagano furthered using data from Ireland and Denmark. Alberto Alesina famously claimed the “expansionary” form of this policy could lower interest rates, which Paul Krugman described as a “zombie idea” (-5[1])relying on“confidence fairies.” The European Troika conditioned (*) bailouts on adoption of this policy, causing (10[1])Greek (10[1])voters to reject one in a 2015 referendum. John (10[2]-5[1])Maynard Keynes recommended that “the boom, not the slump,” is the proper time to implement this policy, which aims to decrease the (-5[1])debt-to-GDP ratio. For 10 points, name this policy of tax hikes and/or cuts to public services, notably practiced by David Cameron’s UK government. ■END■ (10[1])