Staff Reports
In a move that’s part comedy and part panic, top Democratic donors and strategists are desperately throwing together a new political action committee (PAC) to find anyone—literally anyone—who can replace President Joe Biden if he decides to bow out of the presidential race. This time, the New York Times serves as the bearer of their latest harebrained scheme.
The new fund, amusingly dubbed the Next Generation PAC, aims to rustle up somewhere between $50 million and a staggering $100 million to find a replacement candidate who can stand in for Biden—the purported Commander-in-Chief who can’t seem to complete a coherent sentence lately. Should Biden stubbornly cling to his spot, the money will instead go to down-ballot candidates who likely wish they could run far, far away from their leader’s floundering campaign.
Top Democratic donors creating political fund for possible Biden replacement: Report – Washington Examiner https://t.co/PXyDrv2eXx
— Cassis (@cassisnouveau) July 5, 2024
The PAC is the brainchild of Mike Novogratz, a cryptocurrency investor who previously aligned himself with Rep. Dean Phillips from Minnesota. Behold, the Democrats’ savior is a crypto-bro! So far, this PAC appears to be a figment of someone’s wild imagination, as federal paperwork hasn’t even been filed yet. But reports suggest that PAC officials are hopeful they’ll rake in big bucks—somewhere in the neighborhood of $50 million to $100 million—from donors who clearly fear what’s coming in 2024.
Not surprisingly, the Biden camp has caught wind of this shadowy operation and is scrambling to convince potential defectors to remain in the fold. Can you picture the phone calls? Biden’s team trying to keep their loyalists from fleeing like rats off a sinking ship while simultaneously keeping straight faces.
If by some miracle this PAC amasses a fortune, guess who might benefit the most? None other than Vice President Kamala Harris. That’s right, the woman who couldn’t muster 2% in her own primary bid might now be the main attraction. Major donors, still skeptical about her, are likely contemplating deep, desperate sighs as they write checks.
The Next Generation PAC’s formation comes on the heels of growing donor concerns over Biden’s diminishing faculties, particularly after his latest debate performance, which can best be described as a Shakespearean tragedy. Biden’s endless verbal gaffes and his inability to keep track of his thoughts have spurred some major donors to pivot their funding towards down-ballot races or, shockingly, to consider withholding funds altogether.
Donor Gideon Stein, deeply enmeshed in Democratic circles, shared that his family will sit on approximately $3.5 million in donations unless Biden makes an exit. Disney heiress Abigail Disney echoed the sentiment, making it clear that Biden’s campaign funds and related committees would not get another cent from her until the party gets real and replaces their faltering leader.
Still, Biden is adamant he’s not stepping down, arguing that his debate flop was a result of his grueling travel schedule and intense preparation—not a lack of cognitive capability. The White House predictably denies any internal discussions about a Biden retreat, trying to paint a picture of a robust president raring for a second term.
Adding to the chaos, Rep. Lloyd Doggett of Texas opened the floodgates by becoming the first sitting House Democrat to suggest Biden should step down. Hot on his heels, Reps. Raúl Grijalva and Seth Moulton chimed in, as did former Rep. Tim Ryan, who went a step further, urging Harris to take up the 2024 nominee mantle.
Despite all this, the White House remains outwardly confident in Biden’s ability to soldier on for another term, brushing off the increasing drumbeat of calls for his withdrawal. In what might be the most ironic twist, Biden himself, in a post-debate campaign speech, assured everyone that while he’s no “young man,” he’s fully capable of tackling another term. Brace yourselves, folks; the 2024 Democratic circus has only just begun.
