It’s not a ‘who’ but a ‘what’ that is to blame. The Guardian’s economics editor has confused effects (people’s actions) with the cause (the ideology of democracy). Democracy requires debt. If politicians couldn’t deficit finance, they’d have to raise taxes for the current generation in order to pay for all the ‘free’ services/benefits they bribe people with. No one would accept that of course, so they borrow against unborn tax payers and that’s how you magically give the people who can vote you into power more than they paid in. Of course, this isn’t sustainable, at some point the debt reaches a tipping point. That’s where we are now.