There’s no debate

You're right, but for the wrong reasons.

During Nancy Pelosi’s first terms in Congress in the late 1980s and early 90s, few Democratic leaders questioned the need to tack to the center to win over the prized white middle-class voters who could, they believed, make them the majority party once again. After the debacle of the 1994 midterm, Bill Clinton adopted that strategy—to win reelection and nudge the party toward embracing the business-friendly outlook of the Democratic Leadership Council—but without alienating his base among urbane liberals.

In his 1995 State of the Union Address, the president seemed to embrace the conventional Beltway wisdom that the conservatives who had just taken command in Congress had also won the battle to shape public opinion. “The era of big government is over,” Clinton declared. He called for “balancing the budget in a way that is fair to all Americans,” a goal he said enjoyed “broad bipartisan agreement.” Democrats, it appeared, would no longer abide by the Keynesian theory that budget deficits were fine as long as spending created jobs and lifted Americans out of poverty. The next year, Clinton signed a “welfare reform” bill that cut back payments to single mothers in need. By 1998, tax receipts from an economic boom had indeed made it possible for the government to balance the budget for the first time in almost three decades.

Before the president left office, he also signed the repeal of the Glass-Steagall Act, passed during the Great Depression, which had prohibited commercial banks from investing the money of their depositors on stock speculation and other risky financial ventures. The party once known for fighting for the interests of wage earners and small farmers against big business now seemed intent on rolling back nearly any regulations that made CEOs unhappy.

And before you start saying “Democrats are right wing”, fuck you that’s some bothsides propaganda too.

As usual, the question is "to the left of what" and "to the right of what".

If you stack the Democratic Party leadership against the average Senator or Congressman, you'll find a left wing candidate. If you stack them up against a mean voter, they're solidly centrist. If you put an American Democrat on a global stage, they're solidly to the right of the mean.

But modern Democrats are definitely a corporate party. They get their money from big business. They draw the bulk of their candidates, appointees, and administrators from big business. And they have their policies dictated to them by powerful corporate lobbying firms of various stripes. The populist democratic movement of the FDR era is thoroughly eviscerated. This is decidedly a party by, of, and for business management.