Thirty years ago, reeling from the Reagan Revolution, elite Democrats rebranded their party, which had long championed both economic and cultural liberalism. They kept cultural liberalism, but ditched economic liberalism for “neoliberalism”; a blend of economic deregulation, free trade, smaller government and targeted tax cuts. Few said it out loud, but it was the end of the Roosevelt coalition, which had been built on economic issues of universal appeal and which had lasted 50 years.
 
Neoliberalism appeals to the rich. Neoliberal Bill Clinton was the first Democratic presidential nominee to outspend a Republican. In 2008 Obama outspent John McCain 2-to-1, breaking a record set in 1972 by Richard Nixon. But neoliberalism is killing the middle class. It’s why both parties rely on cultural issues to hold their bases. If you back abortion rights, same sex marriage and gun safety you’re a Democrat. If not, you’re a Republican. On economic issues it’s more complex. If you hate big banks and political corruption, you could be for Sanders or Trump. It’s why Sanders talks so much about these things; they’re what the election’s all about.
 
When Clinton isn’t calling Sanders a traitor, she says she shares his goals. But she doesn’t. Clinton was part of the neoliberal revolt that destroyed the Roosevelt coalition and she is as we’ve seen, a woman of markedly fixed views. She may be Obama’s heir, but Sanders is FDR’s. She campaigns as she does out of habit, and to hide the very real choice. The neoliberal experiment is over. Democrats, proud heirs to Franklin Roosevelt, are ready to come home.