No Plan B, then. General Osborne has concluded that his fundamental positioning cannot be improved upon at this stage in the proceedings (von Moltke rules), and so his banner remains firmly planted atop Hill AAA. Everything else is just tweaking, not to say fiddling. It's not wrong to tweak intelligently, and to keep as many of the troops as busy as possible, particularly as there is a bit of a lull before the main engagement. But that's all it is, and improvements to our situation will be tactical at best - a little redeployment of resources here, some extra trench-digging there.
So grinding austerity it is, with inflation to boot.
We've had austerity before: the Depression, the late '40s and early '50s: but the British were more self-disciplined then, and battle-hardened. Literally. If we demonstrably weather the onslaught about to hit the eurozone then perhaps everyone will glumly accept austerity as the price to pay for a strategy of defending the AAA.
In base political currency it is fortunate for the Coalition that both Ed M and Ed B are unconvincing and unattractive splutterers. In time, Labour will find a more compelling voice - but maybe not for years: when you've lost credibility, it's gone (ask Hague, or IDS, or Howard). Huhne will probably soon be wandering loose on the battlefield, one way or another; but otherwise the LibDems have dug in alongside the Tories: Marine Ashdown was steady in the ranks yesterday, and young Captain Alexander knows his duty. So perhaps it isn't a party-political issue so much as a government dealing directly with its unhappy people.
Cameron needs to find a way of speaking to this, a 'narrative' in the jargon of the day. Lots of C@W regulars seem to despise Cameron. I'd say there's no-one better in the Commons for this right now, so let's just get on with the slogging-match.