So while the massive bailout and stimulus package may have averted a crisis in the short term, there would be grave consequences for the irresponsiblespending.
Too often the blame is placed on students' irresponsiblespending habits, but I cannot help but feel that college administrators and corporate parties share some of the culpability as well.
Alastair Ross of the DUP said: "Given that we are in the dying days of this committee, it would be irresponsible to be spending our budget on what looks to be a junket".
The SNP welcomed some Budget measures, such as the freeze on whisky duty and the restoration of the pensions and earnings link, but branded planned spending cuts "irresponsible".
The Lib Dem business secretary defended the coalition's target to cut the structural deficit by 2015, arguing that Labour's plan for more spending and borrowing was "fiscally irresponsible" and would undermine market confidence and cause interest rates to rise.