Austerity at the Grauniad

[Newc]

FT reports enormous annual loss at the gurdian, resulting in widespread redundancies.

Putting aside the 'socialists find running a business is harder than it looks' shocker, I was surprised that they can't just shake the magic money tree rather than introduce austerity measures. I am confused, because I thought the answer to an annual deficit was simply to borrow more money.

Can someone explain where I have gone wrong in my understanding?

[Newc]

My query still stands though. As I recall, history was something like

May 2010
Osborne: "JHTFC! You people spend like drunken sailors. Have you never heard of balancing the books ? I'm going to have to slash and burn"

The Garudian: "No! Austerity bad! Bad Osborne! If you are overspending you must borrow more money. Borrow to spend to invest. It is the only way."

and yet

July 2016
The Gudarian's auditors: ""JHTFC! You people spend like drunken sailors. Have you never heard of balancing the books ? You're going to have to slash and burn"

The Grudiarn: "Yeah, ok, good point, we'll sack loads of people".