What the Lib Dem minister told a recent parliamentary party away day.
The Deputy PM's rejection of "austerity forever" is an important point of difference with the Tories.
The Lib Dem leader has avoided a palace coup but party activists are circling.
The party president is the only major figure to have been untainted by coalition and by allegations of plotting.
Lib Dem peer says his efforts to "expose and end cash-for-peerages in all parties, including our own" have failed.
Peer leaves the party and warns it is "heading for disaster" under Clegg.
"Appropriate steps" will be taken against the rebellious peer.
The party would perform no better under Cable, and Lib Dem voters and the party's 2010 supporters want him to stay.
Ed Miliband benefits when leftwing voters desert Nick Clegg but he suffers when moderate positions on Europe and immigration are shunted to the margins.
The Lib Dem leader should seek a renewed mandate from his party.