the problem with restaurants and broadway is that you've already spent the money on those things when the going is good, and can't claw it back retroactively when the going is bad.

That's why a budget is necessary, and you plan for emergency (of which a layoff is one). Saving up for an emergency fund means you don't spend on luxury until it is saved, which means no broadway or restaurants (unless you're super highly paid, in which case it'd be quite fast).