Check out these points of wisdom from Steve Jobs;
You can skip the first 5 or 6 as relatively basic PR bs.
But the one I wanted to draw your attention was slide 15
On managing through the economic downturn
"We've had one of these before, when the dot-com bubble burst. What I told our company was that we were just going to invest our way through the downturn, that we weren't going to lay off people, that we'd taken a tremendous amount of effort to get them into Apple in the first place -- the last thing we were going to do is lay them off. And we were going to keep funding. In fact we were going to up our R&D budget so that we would be ahead of our competitors when the downturn was over. And that's exactly what we did. And it worked. And that's exactly what we'll do this time."
This is something I totally agree on.
This 'crisis' should be seen as a huge opportunity to pick up some great people and invest in some great projects that will make you stronger and better once the spending does increase as people get more confident about the economy.
Think of this downturn as a chance to reset your processes, get leaner and better and use this as a chance to come out on top.