Couldn't have said it better myself. Chris Lehmann at The Nation nails it here, and in doing so explains Biden's dismal polling: the covert reinstatement of neoliberal austerity—by the cancellation of the child tax credit, the resumption of student debt, the retraction of Medicaid, etc.—promises to tank the economy in 2024, as consumer expenditures (or savings) fueled by C-19 stimulus wither. The gratuitous cruelty of the result in Republican victory is compounded by the sheer stupidity of its origin, in the inane notion that the American people can't abide anything resembling socialism. The fact is, a substantial majority of them favors its programmatic embodiment, no matter who offers it. The Wall Street/Clinton/Obama wing of the Democratic Party knows this, but can't or won't act on the knowledge. Therein lies the tragedy of contemporary politics: the Left has won the war of position, but it will lose the war of maneuver when Trump returns to power.
https://www.thenation.com/article/politics/shutdown-covid-welfare-state/