The Economic Argument Is Over

This commentator declares victory for Paul Krugman in the economic debate he, and others, have been having with the Austerians.  The political debate, however, has been lost.  That debate depends upon public opinion and the public has been convinced that government debt is like household debt.  It also believes that saving is good and that borrowing is bad.  The leaders in the Democratic Party have been unwilling to challenge public opinion.  They recognize that public opinion is created by the media which is controlled by the Austerians.  They don't really care about government debt.  They only care about who pays the taxes, and who benefits from government spending.  They also want to weaken the regulatory branches of government that limit their freedom to plunder.  That is how they define economic freedom.  Democracy is the enemy of plutocracy when it really works to limit their freedom.