TINA was crap when it was first said and it's crap now. Don't believe that austerity for the poor is the answer. The answer is a modest redistribution of wealth.
That's been tried Labour put the top rate of income tax up to 50%, the number paying the top rate has gone down from 16,000 to 6,000 with a massive drop on that collected, so you can't you will just collect less, it is the same with fuel, booze, fags, stamp duty, flights etc they are all the wrong side of the Laffer curve, so Government tax targets have been missed. Once taxes are too high people, many through necessity, will change their lives and lifestyles to pay less. Governments have always found it very difficult to get percentage of taxes collected in the UK above 38% of GDP, they have currently got it up to just under 43% of GDP, but are spending a disgraceful 49% of GDP.
Interest payments were £16bn in 2008, they are now £44bn and will rise by 2016 to £64bn a year. £64bn is 50% of NHS budget which is the second largest budget after Welfare at about £220bn. Now you can do these changes now and hope the economy grows enough to survive (it probably won't) or the IMF or Troika will do it for the UK, which if like Greece will wipe out 25% of industry and GDP, with 25% unemployment so your welfare, interest and debts are even more onerous, with many hard decisions forced by the IMF and Troika. This will see an explosion of beggars, soup kitchens and food parcel charities. There will be across the board welfare and pension cuts of 25-50% and many more pensioners dying through illness, winter fuel poverty and when the wind doesn't blow power cuts, so the lifespan for UK citizens starts to drop.
Many unemployed in Greece have gone back to their traditional village smallholdings that they left to earn more money in the cities. I hope many of you have this luxury of a smallholding so when you are unemployed and the benefits are £25 a week and it doesn't cover your food bills you have land to grow crops on.
Eastern Europe and to a lessor extent Southern Europe have much lower population densities than the UK and until very, very recently had a large percentage of the population working the land, many with village smallholdings, which they still own.
I wish I could see a good outcome for this country but I can't, which is why I'm one of the rats leaving the sinking ship, while the Government is busy spending most of its time rearranging the deck chairs on the deck.
Before you say I'm being pessimistic, it is happening around us already in the PIIGS and Cyprus, with more European countries lining up to join them.