sotillan
Honestly, the whole funding debate for public services is often so facile and ideologically entrenched. Both sides are right: Public services _are_ invariably inefficient, and cutting funding _does_ invariably do little to increase efficiency. But neither side will accept the validity of the other's argument and so we end up with this cycle of alternating governments imposing austerity and generosity.
However, this situation will not continue indefinitely. An advanced, post-scarcity human civilisation will (hopefully) not face constant danger of war, disease and famine, Technology will still advance, but at a slower pace, and not in ways that significantly transform day-to-day lives. Human lifespan will probably also be significantly increased. The result will be a more homogenous, stable and static society. There will still be differences, bug huge disparities of economic and societal status will no longer exist.
In this environment, having no longer to deal with a constant background of threats to their survival, it's likely that humanity will have the time and space to turn to far longer term projects. Indeed, such projects will probably be the only way for a person to imbue their life with a greater meaning in such a future society.