The Founding Fathers understood the inherent risks of democracy. This is why they did not establish a proper democracy in America, but rather a strictly limited form of representative democracy in a republican structure. They did this in fear of the tyranny of the majority and to place a limit upon the momentary passions of the general public.
However, it has become clear that limited representative democracy has evils of its own that are arguably more pernicious than the vagaries of unlimited democracy. As American history demonstrates, representative democracy rapidly devolves into an system where various interest groups band together and form a kleptocracy wherein the government is little more than a mechanism for transferring wealth from the people to the interest groups.