How difficult is it to cut the national debt...

There is a finite amount of money than can be collected as tax and can be spent by the government. The government, over the past 13 years has got further and further into debt. Last year, our glorious leaders overspent by £163 BILLION pounds.

What could be done to cut this massive overspend?

1: Tell EU that we're cutting our subsidy dramatically.
Saving £6.4Billion in 2010/11
http://www.telegraph.co.uk/news/newstopics/politics/6073804/UKs-payments-to-EU-jump-by-60-per-cent.html

2: Slash the DFID budget.
Saving at least £9.1Billion as per 2009/10 figures.
http://webarchive.nationalarchives.gov.uk/+/http://www.dfid.gov.uk/Media-Room/News-Stories/2009/Budget-2009---keeping-our-promises-to-the-worlds-poorest-people/

3: Bailed out banks to repay Asset Protection Agency before handing out bonuses and dividends.
At least £4 Billion per year based on Lloyds repaying £2.5Billion last year and RBS turning a profit of 950Million and having to repay 700 Million each year as part of the APA deal.

4: Reduce NHS expenditure back to 07/08 Budget. £110Bn back to £90Billion.
Saving £20Billion.

5: Reduce Public sector jobs by 1/6. from 6million to 5 million. Mostly middle management paperpushers earning at least £30k p.a.
Saving £30 Billion
http://www.statistics.gov.uk/cci/nugget.asp?id=407

6: Increase Unemployment Benefit to take into account additional 1 million ex-public sector workers. Spending £7 Billion

7: Withdrawl from overseas wars and conflicts.
Saving £4.5Billion.
http://www.guardian.co.uk/world/2009/feb/13/afghanistan-iraq-bill-british-military

8: Create Special Economic Zone. 10% Flat Rate Corporation Tax for overseas companies. Any construction of premises to be carried out by existing British companies and hiring of workers to be British citizens only. No idea how much revenue this would generate, at a guess... Up from £46Bn in 2008 to £50Billion in 2010/11.
Increased revenue of £4Billion

The total difference would be £71.0 BILLION. Even with all the suggestions that i've outlined above, the government would still be overspending by almost £100 BILLION pounds per year!

However, where did all the money get spent? Spending pretty much remained the same compared to 08/09. The problem was that the government received less money via taxation than in previous years. A lot less. In 07/08 the government received £451 Billion. In 08/09, £439 Billion. A difference of £12 Billion.

In 2009/10 the revenue was £397 Billion. £54 BILLION less than in 2007/08.
http://www.hmrc.gov.uk/stats/tax_receipts/table1-2.pdf

How has the government managed to keep things going? It sold the future. It sold debt in return for paying interest. The government got a large injection of cash, but it will have to pay for it for 20, 50 or even 70 years. When I say the government, I mean the taxpayer.

So, we're in a very bad economic state. We, as taxpayers will be paying interest on the money the government has borrowed, while still spending beyond it's (our) means, and still not paying off the money that we already owe.

We need money to come into the country. We need to get money from other countries to flow into the UK. We need to build and export more goods worth at least £100 BILLION per year while cutting costs at home.