President Biden has come under fire after his debate performance raised concerns about his age and cognitive abilities, and as calls grow for him to step down in the 2024 election, Yahoo Finance senior columnist Rick Newman breaks down the latest news.
According to The New York Times, Biden has told aides he is considering whether to continue running for president, a move Newman said was a sign Biden and his aides are aware of public perception of his candidacy, with polls still mixed.
Newman points out that even if Biden were willing to step aside, it's not all bad news for Democrats. He explains that if the president endorses anyone, possibly Vice President Kamala Harris, Democrats would instantly become the front-runners. “Kamala Harris would probably be at the top, and her running mate would probably be someone new and interesting. And the challenge for Kamala Harris would be whether she can overcome all of the doubts that have been hanging over her after her very poor performance in the 2020 election,” Newman says.
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This post was written by Melanie Leal
Video Transcript
It's been a tough week for President Biden, with questions being raised about his ability to serve another term following his performance in last week's debate.
And now, with a donor backer pulling out and new reports surfacing about who might take his place, it could shed more light on what Yahoo treasurer Rick Newman wants next.
So, Rick, how is the situation at the moment?
Now, why are they standing now?
It won't be the same where they stand in the next minute.
So I don't think we should spend too much time on this.
But the New York Times article you mentioned was written by a close Biden ally and donor.
It was not revealed who that was.
I have no idea who told The New York Times, or whether The New York Times had any information that Biden acknowledged to this person that he may have to withdraw from the race if he cannot turn around his declining poll numbers and all the other problems that have been going on since last Thursday's terrible debate.
So, um, we see two things here.
First, this was a leak to the New York Times, and whoever leaked it to the New York Times may have done so to pressure Biden to back down.
So if this is a sign that Biden's aides, and even some of his closest advisers, are starting to say it's time for him to step down and that he knows it, then that could increase pressure on him.
Separately.
A Reuters poll released today actually showed a bit of good news for Biden.
Polls have shown that Biden's approval rating against Trump has actually improved nationwide.
Biden improved by a few points.
He and Trump are tied in this poll.
But first of all, it's not a significant type of poll.
What matters are not national polls, but polls in six or seven battleground states.
On the other hand, there are also some polls showing the opposite result for Biden.
Biden is losing ground.
And I think a lot of things could happen over the next few days of the Fourth of July weekend.
Hmm, maybe after the debate there will be more polls to get a better idea of how Biden is actually doing.
He will be interviewed live on ABC News on Friday.
I think George Stephanopoulos will ask him all the questions that are on people's minds.
Was it really jet lag?
How can I be jet lagged even though it's been over a week since I returned from a trip to Europe?
Um, are you aware that people think you're not fully competent?
So this will be an opportunity to see how Biden handles it.
And, um, um, um, um, um, um, um, um, Shawn, by the time this part ends, something else might be happening.
So, who knows, Rick?
I'm just interested in the process.
So let's say Biden steps down and releases the delegates.
So, Rick, what happens?
Well, if Biden steps down voluntarily, that wouldn't be such a bad thing for the Democrats.
Well, well, first of all, it depends, is Biden going to endorse anybody?
Current Vice President Kamala Harris has quickly become the front-runner and I think she will be the candidate with a significant lead.
Well, there's something going on right now that's jokingly being called the fantasy football of the Democratic presidential campaign, and everyone is booking their dream tickets.
So someone said, what if Kamala Harris ran for president with Barack Obama as the vice presidential candidate? That's not going to happen.
There are plenty of other combinations that won't happen, but one that will likely happen is Kamala Herr at the top with someone new and interesting running as her running mate.
And the challenge for Kamala Harris is whether she can overcome all of the doubts that have surrounded her after her very poor performance in the 2020 presidential election.
And remember, she only made it halfway through the Democratic primary and dropped out pretty early on.
She ran a lackluster campaign.
So people think, well, maybe it's going to be around the same time.
I'm just not sure.
I think she should be given a sort of honeymoon period to reset and let voters reflect on how much she's learned over the last four years.
What has she learned from her four years in the White House and other parts of the Biden administration?
Is she taller?
Umm, does she make herself look different?
So I look for that.
But I guess that's a few news cycles away, and who knows?
Maybe we'll talk about this in 15 minutes.
Okay, I'll definitely get it back.
Rick.
We are delighted that you have joined.
appreciate.
you guys.
