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It was an advanced idea for 1948. It was a bad idea for 1985 that created a dysfunctional Red welfare state that aimed to prop up dignity without creating any real economic agency. In 2020 it is a hopelessly bad model.
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That’s just the blue lottery. Many won big too. That’s why there’s plenty of closet Trumperies in high blue places. They snuck across but retained some fundamental attutudes. Your use of the term “American decline” says it all. The part that thrived feels like a foreign country.
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Perspective dude. 1985 to 2015 was a sustained boom and a lot of us thrived. Me included. Don’t overindex on you and your friends.
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If you look for indicators to confirm your doom tales you will always find them. If you want to ignore all positive trends you will find rationalizations to do so.