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In this quote, Will Rogers is expressing dissatisfaction with how much money is spent on government and the perceived lack of improvement in government services and effectiveness over time relative to increasing costs.
By noting that twenty years ago, the quality of government was the same but the costs were only one-third as much, Rogers suggests that higher spending has not translated to higher quality outcomes from the government. His use of “Lord” implies exasperation or dismay with this imbalance.