$90 Million In Donations Frozen Until Biden Steps Down, Democrats Panic

It seems that prominent Democratic strategist James Carville is quite nervous. He’s especially concerned that President Biden’s close advisors are not being completely honest with him about the seriousness of his challenging political situation.

Carville also thinks that Biden’s supporters in Congress may not fully understand the significance of recent news, such as The New York Times’ reporting that major donors are holding back $90 million from the biggest super PAC supporting Biden, as long as he continues to run for office.

A Significant Blow to Biden’s Campaign

Most polls have shown a modest increase in support for former President Trump, who now leads Biden both nationally and potentially decisively in the Electoral College, according to the RealClearPolitics average.

The freezing of such a large amount of money represents the first concrete consequence of Biden’s poor debate performance, a setback that will be felt imminently:

The frozen contributions come as he had hoped to turn the page on a weekslong crisis within his party following a nearly hourlong news conference on Thursday evening. That appearance — in which he delivered a few gaffes but also demonstrated a command of foreign policy — did not immediately seem to worsen Democrats’ fears about his viability, but it also did not silence the calls for him to drop out.

Here’s what else to know:

Michigan swing: Mr. Biden on Friday is headed to Detroit, in the crucial battleground state of Michigan, and will focus attacks on Project 2025, a blueprint of conservative policy proposals, created by former President Donald J. Trump’s allies, for a future Republican administration. Mr. Biden will be joined in Michigan by Lt. Gov. Garlin Gilchrist and several Democratic members of Congress. He will travel to his beach home in Rehoboth Beach, Del., after his campaign stop in Detroit.

Democrats divided: Reactions to Mr. Biden’s high-profile news conference were mixed. The president delivered a competent presentation, and his performance in the unscripted setting heartened some of his supporters. One of his key allies, Representative James E. Clyburn, said on Friday that the party should stop talking about whether the president is fit to run and respect his decision to stay in the race. If he stepped aside, Mr. Clyburn, Democrat of South Carolina, said he would “absolutely” endorse Vice President Kamala Harris as the nominee.

Four more House Democrats have joined in calling for Biden to step aside less than 24 hours after his press conference. (RELATED: Top Democrat Urges Biden To Step Down After Gaffe-Laden Press Conference)

Carville voiced his concerns on “Andrea Mitchell Reports,” stating, “The donor class is shutting down. I know these people … not only are they shutting down contributions to the Biden campaign, they’re shutting down contributions to the Senate committee, to the House committee. This is a story that’s been reported on. It’s way underappreciated.”

Implications Beyond the Presidential Race

Carville added, “Unlike me, all I can do is shut my mouth. And that would make a lot of people happy. But they shut their wallet and it’s going to make a lot of people unhappy. And that’s going on … and it goes beyond just the top of the ticket.” (RELATED: Kilmeade Calls Biden’s Press Conference ‘Worst Possible Outcome’ For Democrats)

WATCH:

Reports indicate that a “coordinated Democrat rebellion” is set to unfold. According to the Daily Beast, an influential group of “super friends” is being assembled to approach the White House and urge Biden to pass the torch.

Polling Insights and Potential Outcomes

The latest national poll conducted by Marist shows Biden ahead by 2 percentage points, within the margin of error. Notably, this survey was one of only three out of the last 15 major polls that showed Biden tied or ahead.

Interestingly, it found that Biden performs at least as well, and often better, against Trump compared to potential replacements like Kamala Harris and Gavin Newsom.

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