“Look, I think you're tackling public expenditure from the wrong end, if I might say so. Why don't you look at it as any housewife has to look at it? She has to look at her expenditure every week or every month, according to what she can afford to spend, and if she overspends one week or month, she's got to economise the next. Now governments really ought to look at it from the viewpoint of "What can we afford to spend?" They've already put up taxes, and yet the taxes they collect are not enough for the tremendous amount they're spending. They're having to borrow to a greater extent than ever before, and future generations will have to repay. Now, if anyone tells me that a Chancellor of the [Denis Healey] Exchequer can put up public expenditure in two years by -- and it's a tremendous figure -- twenty thousand million pounds, and he doesn't know where to get it down by about three thousand million pounds, then he ought never to have been in charge of the nation's finances ... never!”

We hold this truth to be self evident.

A rooted in common sense/decency concept too fundamental to be understood and honored by the ruck of our decoupled from reality, purchased, politicians.

And at the same time as cutting back public services, destroying 'real' jobs and privatising utilities she was creating economic circumstances through progressive deregulation that encouraged massive individual household debt and the creation of the 'smoke and mirrors' monetarist economy. The hypocricy in this quote is staggering.

Social housing, social transportation, social goods and services departmentalization  would be effective in the UK as in the USA, then you wouldn't have to worry about expenditure deficiencies, and silly political figures. Socialism is the challenge of social abilities to create.

The flaw of any and all welfare states, they cannot figure out how to run the government without making slaves of all their citizens. 
In the case of the USA, the Now capitalist welfare state, Bismarkian model, the same condition of ruin moves forward. 

This used to be known as common sense...  Socialism is a vampire.