Biden says he's "not going anywhere" as calls for him to step aside grow
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President Biden during a Fourth of July event at the White House on Thursday. Photo: Samuel Corum/Getty Images
President Biden is facing calls to step aside from some wealthy Democratic donors following his poorly received presidential debate performance, with at least two saying they'll pause contributions while he's still a candidate.
The big picture: Biden campaign officials held a call with anxious donors on Monday following his debate with former President Trump. But Abigail Disney, the granddaughter of Walt Disney Company cofounder Roy Disney, confirmed Thursday she'll no longer donate to the Democratic Party while Biden's in the race.
State of play: The Disney heiress and longtime Democratic Party supporter confirmed in a statement to CNBC on Thursday that she'd withhold donations to the party "unless and until they replace Biden at the top of the ticket."
- Disney made clear she respects Biden, whom she called a "good man" who's served his country admirably, but added: "If Biden does not step down the Democrats will lose. Of that I am absolutely certain. The consequences for the loss will be genuinely dire."
Moriah Fund president Gideon Stein also paid tribute to Biden while confirming he's suspending $3.5 million in donations that he'd planned to give nonprofits and political groups aligned with the 2024 race.
- "Virtually every major donor I've talked to believes that we need a new candidate in order to defeat Donald Trump," Stein said, per CNBC.
- Democratic Party megadonor and Netflix co-founder Reed Hastings told the New York Times on Wednesday: "Biden needs to step aside to allow a vigorous Democratic leader to beat Trump and keep us safe and prosperous."
What they're saying: After being contacted for comment on Thursday evening about Disney and other wealthy Democratic Party donors saying they won't finance the Democratic Party unless Biden drops out of the race, a Biden campaign official said on Friday that Disney "has not donated to our campaign this cycle."
Zoom out: There's been growing concern among congressional Democrats about the 81-year-old president in the wake of his lackluster June 27 debate performance that Biden and his aides have attributed to factors including a cold and jet lag from foreign travel earlier in the month.
- Following the debate, Reps. Lloyd Doggett (D-Texas) and Raúl Grijalva (D-Ariz.) called on Biden to step aside and 60% of voters in a Morning Consult poll said the president should "definitely" or "probably" be replaced as the Democratic candidate in the race.
- Two polls released after the debate found a majority of voters did not believe that Biden has the mental and cognitive health to be president. And 80% of voters in a Wall Street Journal poll published on Wednesday said they believed Biden's too old to run for a second term.
- The WSJ poll found 78-year-old Trump was leading Biden 48% to 42% among voters nationally, while the latest New York Times/Siena College poll had the former president ahead of his successor 49% to 43%.
What they're saying: Biden said in reply to a supporter who urged him to "keep up the fight" during an Independence Day event at the White House: "You got me, man. I'm not going anywhere."
- Biden was asked during a radio interview with Philadelphia-based WURD Radio that broadcast Thursday if there was any reason for the American people to be concerned about the June 27 debate.
- "No, I had a bad debate — I had a bad debate," Biden replied. "But 90 minutes on stage does not erase what I've done for three and a half years."
The bottom line, via Axios' Hans Nichols and Alex Thompson: It's up to delegates at the Democratic National Convention, not donors, to decide on whether Biden should become the Democrats' presumptive nominee.
- But if the Biden campaign loses donor support, it will be difficult for the president to continue.
Go deeper: Fearing Biden loss, Democratic donors eye House, Senate candidates
Editor's note: This article has been updated with further comment from President Biden and with more context.
