Donors Prepare Plan B While Biden Insists He's Not Leaving Race

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Facts

• As US Pres. Joe Biden insists he won't step down from the Democratic ticket following his debate performance last week against former Pres. Donald Trump, many wealthy donors are reportedly taking various steps should the party need to move forward with a replacement.¹
• Among the reported groups behind this effort is the Next Generation PAC, a fund of as much as $100M to support a potential replacement; another is threatening to withhold contributions unless Biden steps aside; and a third group is offering financial support to elected officials who publicly call for Biden to withdraw.¹
• Since the debate last Thursday, during which he was seen stumbling in his speech, three elected Democrats have reportedly publicly requested he drop out of the race, while several others have predicted that he will lose to Trump in November.²
• There have also been donors who publicly pledged to withhold donations unless Biden drops out, including Abigail Disney of the Walt Disney Co. dynasty and Gideon Stein, the president of the Moriah Fund.³
• This comes after Biden on Wednesday met with over 20 Democratic governors to discuss a path forward. The group of governors pledged their support for the president, who reportedly told them he plans to get more sleep and won't schedule events for after 8 pm as part of that effort.⁴
• During an Independence Day celebration Thursday, Biden responded to a supporter by saying he's 'not going anywhere.' And in a pre-recorded interview that aired Thursday, Biden insisted his debate performance was just 'a bad night.'²

Sources: ¹New York Times, ²Al Jazeera, ³CNBC and ⁴Newsnationnow.

Narratives

• Narrative A, as provided by Newsweek. Biden's debate performance wasn't an outlier; it was the final straw in a series of appearances and events throughout his presidency that showed he shouldn't be running for reelection. It's baffling how those close to him are allowing him to put his life's legacy on the line and how they don't see the problems losing the upcoming election will cause.
• Narrative B, as provided by MSNBC. Historically, Democrats don't do well when they're this divided, and this isn't the time for them to abandon Biden. It's time for Democrats to copy Republicans' unwavering support for their nominee, despite his flaws, and make sure everything is done to defeat the existential threat that is Trump.

Predictions