This is Victor Chernomyrdin's, the former prime-Minister aphorism. The literal translation is "We tried (wanted) to make it better, and it came out as always". It became popular because he shaped in an aphorism, the opinion, widely accepted by self-critical Russians, that whatever Russians try, nothing good comes out. In Russia this expression is used mostly to criticize the government actions, or any other failures which the speaker pertain to Russianness. For more general use the translation "We wanted the best, you know the rest."- offered by Alex (see the top) is, indeed, the best.