A group of left-wing business titans are the latest to call on Joe Biden to withdraw from the 2024 presidential race, writing in a statement on Wednesday that it's time for the president to “pass the baton.”
The organization, called the Leadership Now Project, is made up of more than 400 current and former politically active executives, most of whom support progressive causes and candidates.
The group said in a statement that there is a “new generation of highly qualified Democrats” who want a chance to beat Donald Trump, but they worry that at 81, Biden may no longer be able to do so.
The group called Thursday's debate “deeply concerning” not only because Biden struggled to make coherent remarks at times, but also because he was unable to counter Trump's laundry list of lies.
“Biden has failed to mount an effective counterargument to Trump, and we are concerned he risks a devastating defeat in November,” they wrote. “The threat of Trump's reelection is such that we must call for President Biden and the Democratic Party to pass the baton.”
The group acknowledged that shuffling top candidates at the last minute would be “troublesome” but argued that “the risks of inaction are too great.”
Members of the group include Eddie Fishman, who runs the investment firm D.E. Shaw & Company, Jeni Britton, founder of Jeni's Famous Ice Cream, former NFL Commissioner Paul Tagliabue and former Procter & Gamble CEO John Pepper.
They joined two sitting Democratic lawmakers, Rep. Raul Grijalva (D-Ariz.) and Rep. Lloyd Doggett (D-Texas), as well as numerous political analysts who have called on Biden to end his 55-year political career.
Biden has given conflicting signals about what he plans to do. The New York Times Trump claimed on Wednesday morning that he had told allies he was considering dropping out of the race, but publicly, Trump himself and his campaign and White House spokespeople have maintained that he is mentally and physically capable of winning the November election and of governing for another four years.
The president acknowledged at a fundraiser on Tuesday that “debate night wasn't the best,” but noted that his campaign has added a whopping $38 million to its coffers since then.
“So far so good,” he said. “I'm happy with what's happening.”
But that sentiment could change quickly if big-name politicians and deep-pocketed donors start shifting their support for Biden, especially since the latest polls suggest Biden's performance in the debates is hurting him in the polls.
The Wall Street Journal Some of Biden's donors are justifying their continued support by likening him to Yoda, according to reports Wednesday. Star WarsThey also claim that the 78-year-old Trump resembles Jabba the Hutt, a “gluttonous and powerful gangster.”
Leadership Now suggested others in the business world already want Biden to cave in but are too afraid to ask for it publicly.
“We have heard from many who share our deep concerns about the current situation but are afraid to speak up,” they wrote. “Yet it is our duty in a democracy to speak up, and now is the time to do so. We invite others to join us in this urgent call.”
