As more and more high-profile Democrats demand that President Joe Biden withdraw from the presidential campaign, he is rapidly losing funding.
Six Democrat advisors and operatives who deal with megadonors claimed that funding had begun to dwindle after his dismal debate against former president Trump when he was unable to react coherently to his opponent’s relentless verbal challenges.
In a jab at the president, Trump said that Biden had spent the week at Camp David sleeping, working, and training. Biden’s wish for his preferred debate host network (CNN) came true. But no amount of help or rest could help him justify his awful record. He couldn’t defend his terrible record no matter what he did. Trump said the problem isn’t how old Joe Biden is but his incompetence.
The Democrat Party is facing a significant financial crisis, with some fundraisers being canceled and donors threatening to withhold donations until the president’s resignation.
Funding in the form of small amounts has also fallen, with the campaign predicting a 20-25% dip in grassroots funding for the remainder of July. Despite Biden’s assertions that he has the upper hand in the race against Trump, this enormous issue poses an existential danger to his reelection campaign due to the decline in financial support.
Since the small-dollar spike at the beginning, the Biden campaign has had to make huge changes concerning their low expectations for future funding.
A Democrat adviser said that the Biden team is hoping that small donors will help them out, but he doesn’t see any proof that that will happen. People with a lot of money are very unhappy. Everyone he’s talked to has told him it’s not possible to get any more money for Biden.
George Clooney, an actor, and Bill Harris, a tech businessman, have pledged $2 million to help pay for Biden’s replacement. However, some, like Democrat megadonor Reid Hoffman, have pleaded with donors to keep backing Biden.
The campaign’s attempts to silence skeptics on Capitol Hill have caused widespread alarm.
