Rick Caruso, a billionaire philanthropist and one of President Joe Biden's most significant contributors, has joined the growing chorus of voices urging the President to step down.
Despite his deep respect for Biden's lifelong service to the nation, Caruso believes that the President's resignation would be the most honorable course of action in the current political climate.
As reported by RedState, Caruso, who made a bid for the Los Angeles Mayor's office in 2022, has been a significant financial backer of Democratic campaigns, including Biden's. His aim has been to secure a Democratic victory in the House and maintain their Senate majority. However, he has now decided to halt his financial support for Biden's reelection campaign until he gains more clarity on the situation.
Caruso's decision mirrors that of another prominent Democratic donor, Whitney Tilson. Despite his continued commitment to "stopping Trump," Tilson has also withdrawn his support for Biden. He predicts that the Democratic party will soon reach a consensus on the need for Biden's immediate resignation. He further anticipates that Democratic Congressional leaders will present Biden with a public letter, signed by a majority of House and Senate Democrats, urging him to step down to avoid a public party rift and the accompanying humiliation.
The growing disillusionment among major Democratic donors raises serious concerns about Biden's ability to defeat Trump in the upcoming November elections. The situation is further complicated by the question of who would replace Biden if he were to step down. If Vice President Kamala Harris is not the chosen alternative, fundraising could become more challenging due to the late entry of another candidate into the race.
Bradley Smith, a professor at Capital University Law School in Ohio, points out another potential issue. If Biden were to step down and Harris did not become the nominee, the Biden campaign could only transfer a limited amount of funds to the new candidate. This could pose a significant problem, particularly as the election cycle progresses.
The ongoing debate within the Democratic party over Biden's continued candidacy appears to be benefiting Trump the most. It remains uncertain whether First Lady Jill Biden will support her husband's decision to withdraw from the race. Some suggest that she seems more interested in retaining power than in her husband's health.
The weeks leading up to the Democratic National Convention promise to be a critical period for Biden's political future. The unfolding events will undoubtedly cast a spotlight on the internal dynamics of the Democratic party and the potential implications for the upcoming elections.
Login