Wealthy Democratic donors are quietly expressing their desire for a new presidential nominee, believing that President Biden may not be the best candidate to secure the White House. However, these donors are hesitant to publicly voice their concerns, fearing potential backlash.
Recent attempts by donors to pressure President Biden into stepping down as the party’s candidate have not been successful and have faced resistance from other contributors and political operatives. This internal struggle within the Democratic Party highlights the challenges of addressing a delicate situation that could result in division within the party, alienate crucial support groups, strain personal relationships, and ultimately benefit the Republican candidate, who many donors view as a threat to democracy.
Following a recent debate, a group of Democratic donors gathered in Aspen, Colorado, for a meeting organized by the super PAC American Bridge. During the meeting, when asked how many believed President Biden should step aside, nearly everyone in the room raised their hands. This sentiment led to discussions among members of the Democracy Alliance network, a group of liberal financiers, about issuing a public statement calling for President Biden’s resignation. However, after deliberations, the group’s board decided to continue supporting President Biden.
The reluctance of wealthy donors to openly challenge President Biden reflects a growing concern within the party about his re-election prospects. They are closely monitoring post-debate poll results and the actions of elected Democrats for indications of waning support for the current president. Despite their reservations, these donors understand the risks associated with openly opposing President Biden, especially considering the potential impact on the party’s unity and ability to defeat the Republican candidate in the upcoming election.
In this critical moment, the Democratic Party is grappling with internal divisions and conflicting opinions on how to address the situation. While some donors are pushing for a change in leadership, others are reluctant to rock the boat and risk further discord within the party. As the 2024 election approaches, the party faces tough decisions about its future direction and leadership, with the silent discontent among big donors serving as a reminder of the challenges ahead.