Niall Ferguson: Dems haven't learned the lessons of Europe

Niall Ferguson points out that the Democrats have chosen to ignore fiscal reality.  And given the likelihood of divided government for years to come, have virtually guaranteed a massive crash.  Their cry is not power to the people, it's power above the people.

Meanwhile, in Washington, business went on as usual. The government continued borrowing money despite having breached its legal debt ceiling. Senate Democrats voted down Paul Ryan's plan to reduce the cost of Medicare, despite having no credible plan of their own to stabilize the debt.

The left, led by its sole Nobel Laureate pied piper, Paul Krugman, is walking the country off of a cliff.  And with the President raising a $1 Billion dollar campaign chest (whatever happened to campaign finance reforms?) largely from the recipients of unrestrained spending, it is unlikely that he will change course.

Instead we will hear about how 'racist' it is to vote against the first 'black' President.