The public get what the public deserve
During the 1990s boom, the public favored expanded social spending and tax cuts over paying down the national debt. Today, by overwhelming margins, they favor an immediate balanced budget, even in the face of economic catastrophe.
That is, of course, insane. But Republicans have taken full advantage of the public’s fiscal insanity.
The depressing thing for UK people, of course, is that over here the raving populist balance-the-budget-at-the-economy’s-expense nutters are about to take over, rather than just having been defeated.
Meh, vote for whoever you like, I’m moving to Australia in January anyway. Mineral wealth, newly-elected centre-left government, and no bloody ice. And about as far as you can get from George bloody Osborne…