Joe Biden tries to soothe wealthy supporters’ worries after disastrous debate

Joe Biden and top allies have sought to reassure Democratic donors that he can defeat Donald Trump, after a disastrous debate performance that left wealthy supporters divided over whether the president Should the United States give up its bid for re-election?

Biden admitted that he “didn’t have a great night” when meeting donors at a fundraiser in East Hampton, New York, on Saturday, where participation costs ranged from $3,300 to $250,000 per person, by invitation.

“I understand the concern about the debate. I get it,” Biden told supporters in the affluent resort town.

But the president argued that “voters have reacted differently,” adding: “Since the debate, the polls have shown a little bit of movement, which has actually moved us forward.”

Several polls have been released since Thursday night’s debate, but the betting markets have swung sharply against Biden during and after the contest. A Morning Consult poll conducted on Friday found that nearly half of Democratic voters said Biden should resign in favor of other candidates.

Three donors familiar with the East Hampton fundraiser described the atmosphere in the room as fairly subdued, although the president appeared more forceful than he did during the debate onstage Thursday night.

Biden is scheduled to attend another fundraiser later Saturday in Red Bank, New Jersey, hosted by the state’s Democratic governor, Phil Murphy.

Senior Democratic lawmakers and party representatives have also reached out to donors in recent days. Chuck Schumer, the highest-ranking Democrat on Capitol Hill, has tried to reassure some supporters about Biden’s candidacy since the debate, two party fundraisers said.

There are growing calls for the president to step down and allow another Democrat to be the party’s nominee for the White House before the November election.

At 81, Biden has faced questions for months about his age and fitness to hold office. But any concerns that Democratic insiders privately had about the incumbent president were exposed Thursday night, after nearly 50 million Americans watched Biden struggle in a televised debate against Trump. The president rambled on, seemingly losing his train of thought and struggling to complete sentences.

Biden affirmed that he will stay in the race, and campaign officials said he will participate in the second presidential debate scheduled for September.

The campaign has touted what it says is a record influx of grassroots, or small-dollar, donations since Thursday. A campaign official said Saturday morning that the campaign had raised more than $27 million from the debate through Friday night.

“It wasn’t his biggest controversy. But that’s 90 minutes. . . in a campaign and in an administration where he accomplished great things,” Anita Dunn, Biden’s longtime senior adviser, said on MSNBC on Saturday. “Maybe it’s not an interesting debate. But he has been a great president.”

Asked if Biden’s inner circle discussed him dropping out after the debate, Dunn responded: “No, our conversation was, ‘Okay, what do we do next?’

Jen O’Malley Dillon, Biden’s campaign chair, accused the “beltside class” of “outing Joe Biden.”

O’Malley Dillon said: “If we see a shift in the polls in the coming weeks, it won’t be the first time exaggerated media stories have led to temporary drop in opinion polls”.

But the White House’s assurances have done little to calm public unease. Late Friday, the influential New York Times editorial board announced a leader calling for Biden to resign.

On Saturday in East Hampton, reporters traveling with the president saw a group of onlookers holding signs that read: “Please leave the United States” and “Resign for democracy” and: “We love you but it’s time.”

The fallout from the debate has divided Democratic donors, whose support is crucial to funding a campaign that will spend hundreds of millions of dollars in its bid to secure four more years in the White House. Biden’s long-held fundraising advantage over Trump has eroded in recent months. Trump outraised Biden in both April and May amid a surge in support following his conviction on 34 criminal counts in New York last month.

While some donors have redoubled their efforts to rally behind Biden, others are more concerned. One Democratic fundraiser noted that some major Wall Street donors intend to continue funding Biden’s campaign while trying to persuade him to step aside for another candidate. Another faction intends to withhold all of its donations.

Still, some high-profile Democratic donors have come out in Biden’s defense.

LinkedIn founder and billionaire Democratic donor Reid Hoffman sought to placate wealthy Biden supporters in a letter on Friday, acknowledging that the president had a “very poor debate performance.” But he added that it would be a “bad idea” to launch a public campaign to have him resign.

“This election is very close, and I don’t know who will win,” Hoffman wrote. “But as a political philanthropist, with 129 days until the election, I’m doubling down on America choosing Biden’s decency, caring, and proven success over Biden.” because of Trump’s violence, lies and chaos.”

Trump is leading Biden in national opinion polls, according to FiveThirtyEight’s latest average, as well as in most of the key swing states that will determine the outcome of November’s election.

A Democratic fundraiser said donors will review the poll results in the coming days to make their next move.

Some are weighing who they will put their energy behind if Biden steps down, with Michigan governor Gretchen Whitmer among the most high-profile names to be named. The three donors and donors also said Democratic Minority Leader Hakeem Jeffries is attracting interest from Wall Street elites.

“The results of those polls will help donors decide what to do next… if the results are negative there will be consequences,” the fundraiser said.

But the Biden campaign showed little sign of concern about the poll results over the weekend.

Geoff Garin, president of Hart Research and a pollster for the Biden campaign, said in an X post Saturday night that two surveys he conducted in the following battleground states the debate found it had “no effect on vote choice.”

“The election was extremely close and competitive before the debate, and still is today,” Garin said.

Additional reporting by Alex Rogers in Washington