Rep. Ro Khanna said Democrats "need to be emphasizing the economic issues" in the wake of the 2024 election, which delivered bruising blows to the party — and prompted a reckoning on the path forward.

"We did not have a compelling enough economic vision," Khanna, a California Democrat, said Sunday on "Face the Nation with Margaret Brennan."

President-elect Donald Trump won a decisive victory over Vice President Kamala Harris last week, as the Democrats lost support from key demographic groups from the 2020 election. Khanna, a member of the party's progressive wing, attributed the fracturing among the Democratic coalition to the shortcomings in the party's economic message.

"The Democratic Party should have one simple mission, and that is to address the economic hardships and struggles of many Americans," Khanna said. "Not just working-class Americans — a large slice of Americans who feel the American Dream has slipped away for their families and their kids."

Khanna said new voices in Congress, like Reps. Pat Ryan, Marie Gluesenkamp Perez and Chris Deluzio, have encouraged that Democrats need to tell a "better economic story," emphasizing a vision of raising the minimum wage, addressing child care and building new factories.

"I think that can unify our party — moderates and progressives — and it transcends race and will help us with Latino voters, Black voters, White working class voters," Khanna said. "And we have a better vision than Donald Trump on that."

In the days since the election, some Democrats have expressed that the economic message should have been front and center in the campaign, while arguing that the party had a focus on identity politics. But Khanna said that while he's been clear on the importance of economic issues, "I don't think we should run away" from issues like standing up for transgender rights and equal rights.

Khanna urged Democrats not to "shy away from your convictions," adding that with the issues, along with a focus on the economy, the party can still be successful.

"I think we can win over people, even if they may not agree with us on a particular social issue," Khanna said.

In Michigan, Harris lost key support in Arab American areas amid Israel's war in Gaza. Khanna said he believes that Harris would have won Michigan "if there was more of a reckoning with the failures of policy on Gaza." He added that he has seen that even "beyond Michigan, this really was a concern for a lot of young people and a lot of progressives."

Amid the hand wringing over the election, Democrats have also pointed to President Biden's late decision to leave the race and endorse Harris, including former House Speaker Nancy Pelosi. Khanna said while he has a "lot of respect for Speaker Pelosi," he's "chuckled" at the idea.

"The day he got out, we had Democrats with the most over-the-top superlatives, comparing him to George Washington, saying he did the most honorable thing," Khanna said. "So now to go back and criticize him seems a bit contradictory."

Khanna said Harris' was a "winnable campaign," adding that "anyone who is saying now 'this was not a winnable campaign' didn't say that back in August."

"The reason we didn't win, ultimately, is we didn't listen enough to people on the ground" on emphasizing economic issues, Khanna said. "The reason I'm hopeful for the future is we have the substance."