Why are cuts in Public Spending necessary?

'Annual income twenty pounds, annual expenditure nineteen nineteen six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.'

Charles Dickens - David Copperfield (1850)


Need any more be said?

Actually yes it does, for if we were to extend the above analogy to Gordon Brown's Labour government then we would actually have

'Annual income twenty pounds, annual expenditure nineteen pounds nineteen shillings and six pence, result national solvency. Annual income twenty pounds, annual expenditure twenty six pounds thirteen shillings and and four pence, result misery for many future generations.'