Why is no one telling us the truth about spending cuts?

Telegraph
"In the parallel universe of Little Ed, other people's money – his
play dough – never runs out. Here on Planet Earth, however, it does – and has. Britain's coffers are empty, which explains why the Government is borrowing billions to pay the bills. The cost of this debt is rising, as lenders fret over our ability to fulfil obligations. Without tough remedial action, there will come a moment when international markets refuse to accommodate all our needs, or charge a price that is so prohibitive it will be politically unacceptable.Britain has got away with it, so far, because as the Debt Management Office pumps out Government IOUs, known as gilts, the Bank of England is furiously buying them back through its programme of so-called quantitative easing (QE). Yes, we're printing money to fund our own credit. This, I'm sure you've spotted, fails the common sense test. Were it that easy, the whole world would be at it."