The Biden administration passed $3 trillion of legislation aimed at revitalizing the American economy and fostering green, equitable, “middle-out” growth. It sent checks to voters, canceled student-loan debt, made direct deposits to parents, showered the country in tax credits, and financed the construction of roads, transmission lines, and bridges. Kamala Harris ran as Joe Biden’s successor in the midst of what some financial analysts described as the greatest economy ever, characterized by strong wage growth, low unemployment, falling inequality, and world-beating GDP.

Harris’s loss has spurred finger-pointing, soul-searching, and garment-rending. For years, thinkers on the left had urged the White House to not just talk about popular issues but also deliver on them—a concept referred to by wonks as deliverism. The Biden-Harris team embraced the idea, and many staffers believed they’d delivered.

Deliverism is just a long word for one of the most basic tenets of electoral politics, buttressed by decades of studies as well as by common sense: Make voters richer, win more of them. Why, if Biden did that, did the Democrats lose?

[Josh Barro: Democrats deserved to lose.]

“When the economy does well for most households, and when programs help create security and opportunity for more people to participate in that economy, political rewards follow,” Mark Schmitt of New America wrote the week before the election, when polls showed the contest as close but likely lost for the liberal side. “What I’m looking for in the 2024 election is some indication of whether this feedback loop still works at all, and if not, whether we can ever hope to recreate some connection” between policy and politics.

Democrats may be tempted now to answer in the negative. But there is a strong case to be made that the 2024 election demonstrates that the feedback loop between policy choices and electoral outcomes does in fact endure—even if it is weakening and weirding. The issue is not that deliverism failed. It is that Democrats convinced themselves that they had delivered, without listening to the voters telling them they had not.

If you look at the headline economic statistics, Donald Trump’s broad-based and definitive win makes little sense. The jobless rate has been below 4.5 percent for three years. The inflation rate has been subdued for more than a year. Real wages—meaning wages adjusted for inflation—are climbing for all workers, and particularly the lowest-income workers. Inequality is easing. The stock market is on fire. Productivity is strong, and start-ups are booming. The United States’ GDP growth rate is double that of the European Union.

The Biden administration helped create that economy. With a narrow legislative window, the administration nevertheless passed a gigantic COVID stimulus bill, the American Rescue Plan. It sent $1,400 checks to millions of families, provided thousands of dollars to parents to defray child-care costs, and shored up local-government coffers.

Then it passed a trio of heavy-infrastructure bills aimed at reshoring the semiconductor industry, transitioning businesses and homes to green energy, and fixing up transportation infrastructure across the country. Biden staffers talked about the trio as a kind of New Deal Lite. Folks might “one day come to remember this as the Big Deal,” Pete Buttigieg, the transportation secretary and eternal political hopeful, told The New Yorker this past summer. “Its bigness is the defining factor.”

Yet one could select other defining factors, among them the infrastructure bills’ lack of easy-to-grasp deliverables. I cover economic policy. I would be hard-pressed to explain what constitutes the Big Deal without putting someone to sleep; when I summarize the legislation, I often say “green-energy stuff.” Moreover, many of those deliverables were not instantaneous; today, it is hard, though certainly not impossible, to point to projects that Bidenomics built. “Much of the work we’ve done is already being felt by the American people, but the vast majority of it will be felt over the next ten years,” Biden said on X last week.

The much bigger issue has to do with the Biden-Harris administration’s social policies and the economy it fostered. To be clear, the headline economic numbers are strong. The gains are real. The reduction in inequality is tremendous, the pickup in wage growth astonishing, particularly if you anchor your expectations to the Barack Obama years, as many Biden staffers do.

But headline economic figures have become less and less of a useful guide to how actual families are doing—something repeatedly noted by Democrats during the Obama recovery and the Trump years. Inequality may be declining, but it still skews GDP and income figures, with most gains going to the few, not the many. The obscene cost of health care saps family incomes and government coffers without making anyone feel healthier or wealthier.

During the Biden-Harris years, more granular data pointed to considerable strain. Real median household income fell relative to its pre-COVID peak. The poverty rate ticked up, as did the jobless rate. The number of Americans spending more than 30 percent of their income on rent climbed. The delinquency rate on credit cards surged, as did the share of families struggling to afford enough nutritious food, as did the rate of homelessness.

Government transfers buoyed families early in the Biden administration. But they contributed to inflation, and much of the money went away in the second half of Biden’s term. The food-stamp boost, the extended child tax credit, the big unemployment-insurance payments—each expired. And the White House never passed the permanent care-economy measures it had considered.

Interest rates were a problem too. The mortgage rate more than doubled during the Biden-Harris years, making credit-card balances, car payments, and homes unaffordable. A family purchasing a $400,000 apartment with 20 percent down would pay roughly $2,500 a month today versus $1,800 three years ago.

Indeed, the biggest problem, one that voters talked about at any given opportunity, was the unaffordability of American life. The giant run-up in inflation during the Biden administration made everything feel expensive, and the sudden jump in the cost of small-ticket, common purchases (such as fast food and groceries) highlighted how bad the country’s long-standing large-ticket, sticky costs (health care, child care, and housing) had gotten. The cost-of-living crisis became the defining issue of the campaign, and one where the incumbent Democrats’ messaging felt false and weak.

Rather than acknowledging the pain and the trade-offs and the complexity—and rather than running a candidate who could have criticized Biden’s economic plans—Democrats dissembled. They noted that inflation was a global phenomenon, as if that mattered to moms in Ohio and machinists in the Central Valley. They pushed the headline numbers. They insisted that working-class voters were better off, and ran on the threat Trump posed to democracy and rights. But were working-class voters really better off? Why wasn’t anyone listening when they said they weren’t?

A better economy might not have delivered the gains that Democrats once could have relied on. Voters do seem to be less likely to vote in their economic self-interest these days, and more likely to vote for a culturally compelling candidate. As my colleague Rogé Karma notes, lower-income white voters are flipping from the Democratic Party to the Republican Party on the basis of identitarian issues. The sharp movement of union voters to Trump seems to confirm the trend. At the same time, high-income voters are becoming bluer in order to vote their cosmopolitan values.

But I would not assume that we are in a post-material world just yet. “You got to tell people in plain, simple, straightforward language what it is you’re doing to help,” Biden said after passing his sweeping COVID rescue bill. “You have to be able to tell a story, tell the story of what you’re about to do and why it matters, because it’s going to make a difference in the lives of millions of people and in very concrete, specific ways.”

The Biden-Harris administration did make a difference in concrete, specific ways: It failed to address the cost-of-living catastrophe and had little to show for its infrastructure laws, even if it found a lot to talk about. And it dismissed voters who said they hated the pain they felt every time they had to open their wallet.

No wonder voters decided to see what Donald Trump might deliver.

By electing Donald Trump again, the American electorate has made a bad decision, one that will expose our country to unreasonable risks in areas from foreign policy to public health. Fiscal policy will get worse—budget deficits will become even larger, keeping interest rates high, and programs that provide health care to the poor and elderly are likely to be trimmed back to finance tax cuts for rich people. Abortion rights are likely to be further restricted by a hostile administration that uses the powers of the FDA and the Department of Justice to make abortion harder to provide. And we’ll have another four years under Trump’s exhausting, mercurial, and divisive leadership, making our politics nastier and stupider.

I wish the election had gone the other way. I am annoyed. That said, when Trump won eight years ago, I was much more than annoyed. I was really upset and shocked. This time is different, because Americans have been through this before, and I expect we’ll get through it again. But it’s also different because there’s a big part of me that feels Democrats deserved to lose this election, even if Trump did not deserve to win it.

I write this from New York City, where we are governed by Democrats and we pay the highest taxes in the country, which doesn’t mean we receive the best government services. Our transportation agencies are black holes for money, unable to deliver on their capital plans despite repeated increases in the dedicated taxes that fund them, because building a subway line here costs four times as much per mile as it does in France, and because union rules force the agency to overstaff itself, inflating operating costs. Half of bus riders don’t pay the fare, and MTA employees don’t try to make them. Emotionally disturbed homeless people camp out on the transit system—the other day, I was on a bus where one shouted repeatedly at another passenger that he was a “faggot.” And even though police are all over the place (at great taxpayer expense), they don’t do much about these disturbances, and I can’t entirely blame them since our government lacks the legal authority to keep troubled people either in jail or in treatment. The city cannot stop people from shoplifting, so most of the merchandise at pharmacies is in locked cabinets. A judge recently said the city can’t even padlock the illegal cannabis stores that have popped up all over the place—that’s apparently unconstitutional, and so years into what was supposed to be the “wokest” legal cannabis regime in the country, our government still can’t figure out how to make sure that people who sell weed have a license to do so, even though they’ve done that with regard to alcohol forever.

[Read: The ‘stop the steal’ movement isn’t letting up]

Ever since the COVID shutdowns, Democrats here have stopped talking very much about the importance of investing in public education, but the schools remain really expensive for taxpayers even as families move away, enrollment declines, and chronic absenteeism remains elevated. Currently, we are under a state-court order to spend billions of our dollars to house migrants in Midtown hotels that once housed tourists and business travelers. Housing costs are insane because the city makes building anything very hard—and visiting here is really expensive, too, partly because so many hotels are now full of migrants, and partly because the city council made building new hotels functionally illegal. And as a result of all of this, New York is shedding population—the state will probably lose three more congressional districts in the next reapportionment. And where are people moving to? To Sun Belt states, mostly run by Republicans, where building housing and growing the economy is still possible.

Meanwhile, the voters of New York have just adopted an equal-rights amendment to the state constitution, which was put on the ballot by the Democrat-controlled state legislature. One effect of this amendment is to create a state constitutional right to abortion. Of course, abortion was already legal in New York, and a state constitutional provision will not override any new federal laws or regulations that Republicans might impose with their new control in Washington. This is exactly the sort of brain-dead symbolism that exemplifies the Democrats who rule our state: They pat themselves on the back for a formalistic, legal declaration of the rights of the people who live here, and meanwhile, people of all races and identities flee New York for other, officially less “inclusive” places where they can actually afford a decent quality of life.

I am unfortunately a Democrat, but as someone who lives in a place that is governed very badly by Democrats, I can easily understand why “Can you imagine what incompetent, lunatic shit those people will do if they get control of the government?” would fall flat as an argument against Republicans. It doesn’t surprise me that the very largest swings away from Democrats in this post-COVID, post–George Floyd, post-inflation election occurred in blue states. The gap between Democrats’ promise of better living through better government and their failure to actually deliver better government has been a national political problem. So when Republicans made a pitch to change all this (or even burn it all down), it didn’t fall flat.

Right before Election Day, Ross Douthat wrote a column for The New York Times that left me quite uneasy. It was about the campaign signs he was seeing all over New Haven that read Harris-Walz 2024: Obviously. Douthat started with a point that’s almost tautological: Because the election appeared close, by definition neither candidate was the obvious choice. And he looked at why the decision would not be obvious to so many voters, writing:

Let’s take one last survey of why some waverers might not yet be sold on Kamala Harris and Tim Walz, by returning to where this all began: The world of 2016, when Americans normally disinclined to vote for liberals were first informed that there was no other reasonable choice … the promise was that even if you disagreed with liberalism’s elites on policy, you could trust them in three crucial ways: They would avoid insanity, they would maintain stability, and they would display far greater intelligence and competence than Trump and his hangers-on.

Many voters believe these promises were broken. Of course, the most politically significant aspect of the instability has been post-COVID inflation—a global problem that has taken out incumbent governments of the right and left all over the world. Inflation is mostly not Democrats’ fault, though they did exacerbate it by overstimulating the economy with the American Rescue Plan, and then they failed to focus early enough on inflation as the key economic problem of this administration.

To be precise, the ARP, passed in early 2021, constituted an unnecessary $2 trillion stimulus that mostly produced inflation rather than real GDP growth. Then, throughout 2022, even as inflation started to bite, Democrats were still looking for every way they could find to spend as much money as possible to satisfy interest-group constituencies. Even the so-called Inflation Reduction Act, which was supposed to reduce inflation by reducing the deficit, is currently increasing the deficit by tens of billions of dollars a year and, if left unchanged, will continue to do so through 2027. The deficit reduction does not begin until 2028, far too late to be politically relevant for Joe Biden’s Democrats.

The other big destabilizer is the migrant crisis, which was born out of this administration’s fecklessness—Biden rapidly reversing Trump’s immigration executive orders upon entering office without any plan for controlling the border and apparently without realizing that migrants are smart, and will be more likely to come if you make clear that coming very likely means they will get to stay. (A failure to consider incentives is a running theme when Democrats fail.) Democrats did not pivot to enforcement until far too late—and not until after Texas Governor Greg Abbott made the crisis a blue-state issue by bussing migrants here en masse to fill Democrats’ hotels and consume Democratic budgets.

On the “insanity” front, Douthat cites the political movement in the aftermath of George Floyd’s murder, responses to COVID, and trans-youth medicine—all areas where liberals’ moral fervor has caused them to lose sight of whether the ideologically driven courses they had taken were actually producing the intended positive effects. Democrats know they paid a price for “Defund the police” and they have mostly learned their lesson, or at least they will now, because several high-profile “progressive” prosecutors lost their blue-city posts this week. On the COVID restrictions, Democrats have not really reckoned with how off-putting a lot of the busybody moralizing was, but this issue will likely simply fade with time.

As for trans issues, I have been skeptical about their political salience—although I don’t believe that Lia Thomas belonged on the Penn women’s swim team, I also can’t imagine casting a vote based on my views about that story. But Kamala Harris’s 2019 declaration to the ACLU that she would have the government pay for gender-affirming surgeries for prisoners and people held in immigration detention became a major attack line against her in this campaign. That’s because it highlights several problems with the party’s image all at once: Here was the Democratic nominee, bowing to pressure from interest groups to look for ways to spend your tax dollars on the most bespoke concern of a criminal, or of a noncitizen who isn’t even supposed to be here, before thinking about you and your interests. But the truly grim irony about the political cost of this promise is that, of course, the federal government that only got seven electric-vehicle-charging stations built in two years has performed zero transgender surgeries on detained migrants. That’s the Democrats in a nutshell: the party that promises trans surgeries for undocumented immigrants but doesn’t deliver them.

[Thomas Chatterton Williams: What the left keeps getting wrong]

And all of this is why I think Democrats’ approach to the cost-of-living issues that have dominated this campaign has fallen so flat. The Democratic argument is, more or less, “look at all my programs”—all of the things I’m going to have the government do to make life easier for you. In some cases, they have a clear track record to run on: The Affordable Care Act has gotten more popular over time, and the expanded subsidies that reduce the premiums most Americans pay to buy individual plans on the exchanges have increased enrollment. But mostly, I think Americans look around at how it goes when the government actually tries to help, and they have a healthy skepticism about how helpful the government is really going to be, and about whether the benefits are really going to flow to them. Democrats are making too many promises; they have tried to do a zillion different things and done them badly at great expense, as was the approach with the moribund Build Back Better Act. They instead need to pick a few things for the government to do really well, with a focus on benefits to the broad public rather than to the people being paid to provide the services.

Although I think Harris should have picked Pennsylvania Governor Josh Shapiro as her running mate, I don’t think choosing him would have changed the outcome. But Shapiro is a popular swing-state governor who will be a front-runner for the 2028 nomination. And Shapiro’s signature policy achievement is rebuilding a highway underpass. There is a lesson here: When government focuses on its core responsibilities and delivers on them quickly, efficiently, and with a laser focus on making sure people can go about their lives as normal, the voters reward that. You don’t need a grand vision; you need to execute.

Winning the next federal election is important. For that reason, it is important that Democrats get the voters to believe they deserve to win that election. They have two years to work on it before the midterms.

This article was adapted from a post on Josh Barro’s Substack, Very Serious.