I agree with most of that but not all. People don’t notice single digit, but it’s still meaningful when you’re talking real wage growth. Wages grew faster than inflation, even if only by single-digit. The reality was overruled by the fact that post COVID inflation had raised prices. The Democrat plan was to maintain positive, compounding real wage growth.

Biden identified falling industrial output and employment and enacted subsidies via CHIPS etc al which resulted in real shovels in real dirt building semiconductor plants in upstate NY, new construction of wind and solar plants, etc. Biden identified high pharmaceutical prices and enacted the first ever group negotiated purchasing rates for 10 drugs with more on the way for his 2nd term. Anticompetitive practices, Lina Khan. Crimes against the state, Jack Smith. Historically low violent crime rates, a successful opioid addiction policy seeing massively falling OD rates…

He and Kamala had two practical failures in Merrick Garland and Palestinian policy. The rest was an optical nightmare, and I’m not sure where the failure was but I’m not sure it was with “the donors”. Kamala spent a shitload more money than Trump and somehow all anyone ever heard was “Killer Kamala” and “but she laughs weird”. Whatever caused that, I think is the ultimate failure of the party.