An era of straitened resources

In his most recent column, Cecil states that we live in “[a]n era of straitened resources, where the only responsible course is to ask the public to give more and get by with less…” What are the “straitened resources” which Cecil is referring to? Is he taking a position on US debt levels and their implications for government policies (i.e. siding with those economists who argue that high debt levels are slowing growth against those who argue that slow growth is increasing debt levels and more investment is needed)?