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The major oil companies, which were caught off guard when prices plunged in 1998, still have not raised their exploration budgets back to 1997 levels.
America's divided government, unable to reach a comprehensive deal to bring budgets back to balance, may soon adopt targets that, if breached, trigger spending cuts or tax rises.Fiscal straitjackets come in many shapes and sizes.
Asked whether he would be urging his German counterpart to support a cut or a freeze in the EU budget, he said: "I believe it would be wrong for the European budget to increase at a time when we are having to make difficult decisions not just in Britain but all over the European Union to get our budgets back to balancing.
In the past five years almost £500m has been stripped out of programme spend (see graphic) by the BBC, ITV, Channel 4 and Channel 5 – £200m of that drained away in 2009 alone – with budgets back to levels not seen since 1998.
It will take several years to bring IT budgets back to pre-downturn levels.
"Those companies shifted budgets back to advertising and targeted younger generations," says Heckler. "Older generations were too tough to recondition".
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He will bring the budget back to surplus.
Both major parties accept that trying to get the budget back to surplus should be their aim.
"This is an uncommon predicament and a core challenge in working to bring the budget back to balance".
But independent military budget analysts described the cuts, which would bring the Pentagon base budget back to 2007 levels, as agonizing but manageable.
Given the deficits in both Britain and America, it seems unlikely that any cyclical rebound will be strong enough to bring the budget back to balance.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com