Debate about candidacy - Report: Biden donors withhold millions for campaign
Some donors of the Democratic Party are reportedly holding back estimated around 90 million US-Dollars in campaign support for President Joe Biden, as long as he continues his candidacy. This was reportedly disclosed by sources to the "New York Times" who wished to remain anonymous. They declined to provide concrete information on the identities of the donors.
A spokesperson for "Future Forward," a so-called Super-PAC, reportedly told the newspaper that they expect donors, who have frozen their funds, to release them once the uncertainty is clarified. "Future Forward" itself declined to comment.
The acronym "Pac" stands for political action committee. Super-Pacs are organizations that can accept unlimited donations and use them for advertising for specific candidates or political causes - even if the groups cannot directly receive money from the candidates. Thus, their influence on the campaign is significant. Campaigns in the US are extremely expensive. Only those who have the necessary small funds can sustainably stay in the race - and keep going.
Prominent voices put pressure
Last week, there were already reports that a wealthy Disney heiress was holding back her financial support for the party until Biden withdraws from the presidential candidacy race. Wealthy film stars are also among the significant donors of the party. A text by actor George Clooney in the "New York Times" this week called on Biden to withdraw.
The 81-year-old Biden has remained unwavering so far and shows no signs of self-doubt regarding his mental fitness. Since his disastrous TV debate performance against Republican challenger Donald Trump, around 20 democratic congressmen have publicly opposed Biden. Biden is expected to be officially nominated as the Democratic candidate for the presidential election in November at the Democratic Party convention in August. He has already won the necessary delegate votes for this in the primaries. Therefore, only he can decide to withdraw from the race.
- Despite the financial pressure from some Democratic Party donors, President Joe Biden has shown no signs of withdrawing from his candidacy for the US Election 2024.
- The New York Times reported that various donors, including wealthy individuals such as a Disney heiress and notable film stars, have temporarily withheld their support for Biden's campaign due to his continued candidacy.
- If elected as the US-President again, Biden's economic policies may have significant implications for the value of the US Dollar in the global market.
- The Democratic Party, under Biden's leadership, will need substantial financial backing to mount a competitive campaign heading into the US Election 2024.
- Influential voices within and outside the party have expressed concerns about Biden's age and mental fitness, but the 81-year-old president remains confident in his ability to represent the United States of America in the upcoming election.
