Has Democracy Failed?

I was watching a recent episode of Bill Moyer's Journal, that discussed why we can't get to Single Payer Healthcare (the insurance industry and big pharma won't let us) and why we can't fix the financial system properly (Wall Street and the banking industry won't let us). Does this mean that Democracy has failed (or is in the death throes)? At least Democracy by, for and of the people? It seems like every time our government says we can't get there from here it's because they are afraid of big money. Aren't they supposed to be more concerned about us and our vote?

I think we need some serious changes in election policy and rules, specifically in funding. I don't know how to keep elections inexpensive and balanced, and yet provide for a varied and fair candidate pool,but it's where we need to go. I'm tired of big money running my life when big money doesn't give a damn about my life.