You're all thinking way too small.
It has less to do with "backlash", or whether a Democrat or Republican gets elected, and more to do with global economic trends. The conservative wave wasn't just contained to America, after all. Global capitalism was entering a crisis as the band-aids applied during the Interwar Period were coming undone. The solution was neoliberalism and the undoing of traditional industry, with financial capitalism emerging to take its place. Deregulation, austerity, creative destruction, and the erosion of the power of organized labor. In America this started as early as the late 1930s, when Roosevelt began to reverse the New Deal and continued all the way through the 90s when the process was completed.
It should be noted that America's transition was actually smoother than in some other Western countries. Look at what happened to the United Kingdom and New Zealand during the 70s/80s!
You can delay this transition or make it less ugly, but I don't really see how you can prevent it entirely barring a pre-WWII PoD.