In a dramatic twist worthy of a political thriller, Joe Biden’s reelection campaign has hit a colossal financial snag. Democratic donors have slammed the brakes on an eye-popping $90 million in pledges, setting off alarm bells throughout the party. This move comes amidst mounting anxiety over Biden’s leadership and the party’s future direction.
The backdrop to this financial freeze is a private meeting between House Minority Leader Hakeem Jeffries (D-NY) and Biden. The tense encounter took place the same day as Biden’s NATO news conference, underscoring the urgency of the internal crisis facing the Democrats. According to insiders, the meeting revealed significant unease within the party, particularly following Biden’s recent performances on the national stage.
Adding fuel to the fire, influential Democratic donors have expressed their discontent by pausing approximately $90 million in pledges to Future Forward, the leading pro-Biden super PAC. The donors, preferring to remain anonymous due to the sensitive nature of the issue, have voiced their concerns following what many viewed as a tepid debate performance by Biden at the end of June.
WOW. Top Democrat donors to the largest Biden Super PAC are withholding $90 million until he drops out of the race. pic.twitter.com/R6BA7aRSux
— Libs of TikTok (@libsoftiktok) July 12, 2024
A Future Forward adviser, maintaining a tight-lipped stance, indicated that the group expected contributors who had paused donations to return once the current uncertainty about the ticket was resolved. However, with more and more major donors expressing their doubts about Biden’s ability to secure a victory in November, the situation appears more precarious by the day.
One donor described being approached multiple times by Future Forward since the debate for a contribution but noted that he and his friends were “holding off.” This reluctance is reportedly tied to concerns not just about Biden’s performance but also his overall viability as the party’s nominee.
Interestingly, the cash freeze comes as some advisers around Biden are discussing how to persuade Biden to exit the race. In parallel, his campaign has begun testing Kamala Harris in head-to-head surveys against former President Donald Trump, suggesting a contingency plan may be in the works. The growing number of congressional Democrats calling for Biden to step aside further compounds the crisis.
July has proven to be a challenging fundraising period for Biden’s campaign, with the financial rebellion casting a long shadow. Despite these woes, Biden managed to deliver a moderately better performance during his NATO press conference than he did during the June 27th presidential debate. Though he slipped up a few times, the hour-long presser didn’t notably worsen Democrats’ worries about his ability to lead. However, it also failed to quell the calls for him to step aside.
As the 2024 elections loom ever closer, the Democratic Party faces the daunting task of unifying and reinvigorating its base. With internal discord and financial turmoil threatening to undermine their efforts, the path forward demands a serious rethinking of who will helm the ticket.
Leave a Comment