1. Make no mistake. A very impressive win on multiple levels. Defeating a sitting president is very, very hard in American system, especially if that president's party has only served 1 term. Only Carter defeat in 1980 in the last century is comparable. https://twitter.com/natemcdermott/status/1327333875190738945

2. In last century only 4 other sitting presidents defeated: Hoover, Ford, Carter, George H.W. Bush. But with Hoover GOP been in power 12 years, with Ford 8 years, with Bush 12 years. Only with Carter do you get switch after party in power only 4 years.

3. Votes aren't all counted but when they are, it looks like Biden will have won by about 7 million votes & nearly 5%. Biden's vote share will be larger than Reagan in 1980. The scale of the rejection of Trump is massive (moreso than embrace of Dems).

4. On a party level, regaining the former Blue wall while expanding the sunbelt gives the Dems some breathing space to navigating demographic shifts of next decade or more.

5. One other way Biden's victory impressive. Only precedent is Carter. Carter in 1980 hurt by internal divisions (Kennedy's strong primary challenge) and 3rd party vote (Anderson). Also Fed Reserve's brutal rate hikes. In 2020 Fed Reserve's easy money helped Trump.