How it works ...

The English have been on an austerity kick like we have, for probably the same reasons, though they've been promising people they wouldn't lose their jobs. Not so much:

The Conservatives were quite open about removing hundreds of thousands of government jobs in the UK but they did assure people that for the health care system, they would protect the system. That now looks like another empty promise. Imagine how many jobs the US conservatives will eliminate beyond what they're already saying they will cut. This will have a chilling effect on the system as more losses are discovered. Having employment as high as possible and receiving tax income is much more important than any benefits received from chopping programs.

...

They're cutting, both there and here, for only one reason. It's easier for their rich friends and corporations to loot whatever "savings" they may find.