I think it was called ‘The Man Whose Brain Couldn’t Slow Down’

So basically the same as in other areas, investment in getting things right will be better for everyone in the long run, but might make it a bit harder right now, so no politician will commit to it because voters are incredibly shortsighted. So instead we get more and more cuts, very rarely in the right areas, and things end up worse for everyone but the elite in the end.