Biden recently boasted of his administration's success in lowering the deficit of the US government. This reduction could be considered "budget austerity". Budget austerity usually involves a reduction in federal government spending and/or the raising of taxes to keep the budget deficit under control. Suggest that just as austerity was beginning that we discovered the economy at a level of Ye that was below full employment (Ye < YN), as we did in the first two quarters of 2022. Illustrate graphically using the simple expenditure model developed in class what austerity will mean when for the level of planned spending when we start at Ye