Coming off a successful round of elections in 2025 and a government shutdown triumph, the Democratic Party seems to be exhibiting a united front. But appearances belie reality. Beyond the headlines, a civil war is raging between the “abundance” wing and the “populist” wing of the party. After a strong effort by the abundance crowd last year, the populists are pushing back hard and appear to have the upper hand.

Sen. Elizabeth Warren (D-MA) issued a blistering denunciation of abundance Democrats at the National Press Club this month, accusing them of “watering down our economic agenda and sucking up to the rich and powerful.” She even named names, singling out for disapprobation venture capitalist Reid Hoffman and authors Ezra Klein and Derek Thompson, who wrote the book on abundance.