Connect with us

News

Joe Biden tries to calm nerves of wealthy backers after debate debacle

Published

on

Joe Biden tries to calm nerves of wealthy backers after debate debacle

Joe Biden and top allies have sought to reassure Democratic donors that he can defeat Donald Trump, after a disastrous debate performance left wealthy backers divided over whether the US president should abandon his re-election bid.

Biden conceded that he “didn’t have a great night” as he met donors at a fundraiser in East Hampton, New York, on Saturday, where the cost of entry ranged from $3,300 to $250,000 per person, according to the invitation.

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

But the president argued that “voters had a different reaction,” adding: “Since the debate, the polls show a little movement, moved us up actually.”

Few polls have been released since Thursday night’s debate, but betting markets moved dramatically against Biden during and after the showdown. A Morning Consult poll conducted on Friday found roughly half of Democratic voters said Biden should step aside in favour of another candidate.

Advertisement

Three donors familiar with the East Hampton fundraiser described the mood in the room as subdued, despite the president appearing stronger than he did on the debate stage on Thursday night.

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

Senior Democratic lawmakers and party grandees have also reached out to donors in recent days. Chuck Schumer, the most senior Democrat on Capitol Hill, has tried to reassure several backers about Biden’s candidacy since the debate, said two party fundraisers.

There have been mounting calls for the president to step aside and allow another Democrat to be the party’s nominee for the White House ahead of November’s election.

At 81 years old, Biden has faced questions for months about his age and fitness for office. But any concerns that Democratic insiders had privately about the incumbent president spilled out into the open on Thursday night, after nearly 50mn Americans watched Biden struggle through a live, televised debate against Trump. The president rambled, appeared to lose his train of thought and struggled to complete sentences.

Advertisement

Biden has insisted that he will stay in the race, and campaign officials say he will participate in a second presidential debate planned for September.

The campaign has touted what it says has been a record influx of grassroots, or small-dollar, donations, since Thursday. A campaign official said on Saturday morning that the campaign had raised more than $27mn between the debate and Friday evening.

“It wasn’t his greatest debate. But it is 90 minutes . . . in a campaign and in an administration, where he has achieved enormous things,” Anita Dunn, a longtime senior adviser to Biden, said on MSNBC on Saturday. “Maybe it wasn’t a great debate. But he has been a great president.”

Asked if Biden’s inner circle had discussed him dropping out after the debate, Dunn replied: “No, the conversation we had is, ‘OK, what do we do next?”

Jen O’Malley Dillon, chair of the Biden campaign, accused the “beltway class” of “counting Joe Biden out”.

Advertisement

“If we do see changes in polling in the coming weeks, it will not be the first time that overblown media narratives have driven temporary dips in the polls,” O’Malley Dillon said.

But the White House assurances have done little to quell public unease. Late Friday, the influential New York Times editorial board published a leader urging Biden to step aside.

On Saturday in East Hampton, reporters travelling with the president saw a group of onlookers holding signs that read: “Please drop out for US,” and “Step down for democracy,” and: “We love you but it’s time.”

The debate fallout has divided Democratic donors, whose support is critical to fund a campaign that is set to spend hundreds of millions of dollars in an effort to secure another four years in the White House. Biden’s long fundraising advantage over Trump has eroded in recent months. Trump outraised Biden in both April and May amid a swell of support following his conviction on 34 criminal charges in New York last month.

While some donors have redoubled their efforts to rally people around Biden, others are more skittish. One Democratic fundraiser noted some Wall Street megadonors intend to keep bankrolling the Biden campaign while trying to convince him to make way for another candidate. Another camp intends to withhold their donations altogether.

Advertisement

Still, several high-profile Democratic donors have come to Biden’s full-throated defence.

LinkedIn founder and billionaire Democratic donor Reid Hoffman sought to calm fellow deep-pocketed Biden supporters in a letter on Friday in which he acknowledged that the president had a “very bad debate performance”. But he added that it would be a ‘bad idea” to launch a public campaign to get him to step aside.

“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 am doubling down on my bet that America will choose Biden’s decency, care, and proven success over Trump’s violence, lies, and chaos.”

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

One Democratic fundraiser said donors would be looking at polling in the coming days to plot their next move.

Advertisement

Several are already contemplating who they would throw their weight behind if Biden were to step aside, with Michigan governor Gretchen Whitmer among the most popular names being floated. Three donors and bundlers also said Democratic House minority leader Hakeem Jeffries was gaining interest from Wall Street elites.

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

But the Biden campaign showed little outward signs of concern about the polls at the weekend.

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

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

Advertisement

Additional reporting by Alex Rogers in Washington

News

Louisiana Sen. Bill Cassidy loses in Republican primary, does not advance to runoff

Published

on

Louisiana Sen. Bill Cassidy loses in Republican primary, does not advance to runoff

One observer of the current Senate race in Louisiana noted that Sen. Bill Cassidy could lose his reelection bid.

Annie Flanagan for NPR


hide caption

toggle caption

Advertisement

Annie Flanagan for NPR

Sen. Bill Cassidy lost Saturday’s Louisiana Republican primary according to a race call by the Associated Press.

Cassidy, who served two terms in the Senate, was one of seven Republican senators who voted to convict President Trump after the January 6th insurrection at the Capitol. That vote put him at odds with Trump and his MAGA coalition, ultimately leading Trump to push Rep. Julia Letlow to run against Cassidy.

Cassidy’s bid for a third term was viewed as a test of Trump’s grip on the party–and of what voters want from their representatives in Washington. The primary pitted Cassidy, a veteran lawmaker, former physician and chair of the powerful Senate health committee, against Letlow, a political newcomer and a millennial MAGA loyalist.

Advertisement
A detailed view of a hat that reads, Run Julia Run, is seen at a campaign event for Rep. Julia Letlow (R-LA) on May 6, 2026 in Franklinton, Louisiana.

A detailed view of a hat that reads, Run Julia Run, is seen at a campaign event for Rep. Julia Letlow (R-LA) on May 6, 2026 in Franklinton, Louisiana.

Tyler Kaufman/Getty Images


hide caption

toggle caption

Tyler Kaufman/Getty Images

Advertisement

A former college administrator, Letlow won a special election in 2021 for the House seat her late husband, Luke, was set to assume before he died from COVID in 2020.

In Congress, Letlow sponsored a bill to collect oral histories from the pandemic and has focused on education and children. She introduced the “Parents Bill of Rights Act,” which would allow parents to review classroom materials like library books and require schools to notify parents if their child requests different pronouns, locker rooms or sports teams.

She also serves on the powerful appropriations committee and has embraced Trump’s agenda.

Advertisement

Letlow, who came first in Saturday’s primary, will face Louisiana state Treasurer John Fleming in the runoff on June 27. Cassidy came in third.

The election result is a victory for President Trump who has put Republican loyalty to the test on the ballot so far this year in Indiana state senate primaries and in Cassidy’s race.

Another major test of Trump’s influence comes in Kentucky’s primary on Tuesday when Republican Rep. Thomas Massie, who has found himself at odds with the president, faces a challenger endorsed by Trump.

Continue Reading

News

Brass bands in Beijing make way for sticker shock at home as Trump returns to escalating inflation

Published

on

Brass bands in Beijing make way for sticker shock at home as Trump returns to escalating inflation

WASHINGTON (AP) — President Donald Trump returned from the spectacle of a Chinese state visit to a less than welcoming U.S. economy — with the military band and garden tour in Beijing giving way to pressure over how to fix America’s escalating inflation rate.

Consumer inflation in the United States increased to 3.8% annually in April, higher than what he inherited as the Iran war and the Republican president’s own tariffs have pushed up prices. Inflation is now outpacing wage gains and effectively making workers poorer. The Cleveland Federal Reserve estimates that annual inflation could reach 4.2% in May as the war has kept oil and gasoline prices high.

Trump’s time with Chinese leader Xi Jinping appears unlikely to help the U.S. economy much, despite Trump’s claims of coming trade deals. The trip occurred as many people are voting in primaries leading into the November general election while having to absorb the rising costs of gasoline, groceries, utility bills, jewelry, women’s clothing, airplane tickets and delivery services. Democrats see the moment as a political opportunity.

“He’s returning to a dumpster fire,” said Lindsay Owens, executive director of Groundwork Collaborative, a liberal think tank focused on economic issues. “The president will not have the faith and confidence of the American people — the economy is their top issue and the president is saying, ‘You’re on your own.’”

The president’s trip to Beijing and his recent comments that indicated a tone-deafness to voters’ concerns about rising prices have suggested his focus is not on the American public and have undermined Republicans who had intended to campaign on last year’s tax cuts as helping families.

Advertisement

Trump described the trip as a victory, saying on social media that Xi “congratulated me on so many tremendous successes,” as the U.S. president has praised their relationship.

Trump told reporters that Boeing would be selling 200 aircraft — and maybe even 750 “if they do a good job” — to the Chinese. He said American farmers would be “very happy” because China would be “buying billions of dollars of soybeans.”

“We had an amazing time,” Trump said as he flew home on Air Force One, and told Fox News’ Bret Baier in an interview that gasoline prices were just some “short-term pain” and would “drop like a rock” once the war ends.

Inflationary pain is not a factor in how Trump handles Iran

Trump departed from the White House for China by saying the negotiations over the Iran war depended on stopping Tehran from developing nuclear weapons. “I don’t think about Americans’ financial situation. I don’t think about anybody. I think about one thing: We cannot let Iran have a nuclear weapon,” Trump said.

That remark prompted blowback because it suggested to some that Trump cared more about challenging Iran than fighting inflation at home. Trump defended his words, telling Fox News: “That’s a perfect statement. I’d make it again.”

Advertisement

The White House has since stressed that Trump is focused on inflation.

Asked later about the president’s words, Vice President JD Vance said there had been a “misrepresentation” of the remarks. White House spokesman Kush Desai said the “administration remains laser-focused on delivering growth and affordability on the homefront” while indicating actions would be taken on grocery prices.

But as Trump appeared alongside Xi, new reports back home showed inflation rising for businesses and interest rates climbing on U.S. government debt.

His comments that Boeing would sell 200 jets to China caused the company’s stock price to fall because investors had expected a larger number. There was little concrete information offered about any trade agreements reached during the summit, including Chinese purchases of U.S. exports such as liquefied natural gas and beef.

“Foreign policy wins can matter politically, but only if voters feel stability and affordability in their daily lives,” said Brittany Martinez, a former Republican congressional aide who is the executive director of Principles First, a center-right advocacy group focused on democracy issues.

Advertisement

“Midterms are almost always a referendum on cost of living and public frustration, and Republicans are not immune from the same inflation and affordability pressures that hurt Democrats in recent cycles,” she added.

Democrats see Trump as vulnerable

Democratic lawmakers are seizing on Trump’s comments before his trip as proof of his indifference to lowering costs. There is potential staying power of his remarks as Americans head into Memorial Day weekend facing rising prices for the hamburgers and hot dogs to be grilled.

“What Americans do not see is any sympathy, any support, or any plan from Trump and congressional Republicans to lower costs – in fact, they see the opposite,” Senate Democratic leader Chuck Schumer of New York said Thursday.

Vance faulted the Biden administration for the inflation problem even though the inflation rate is now higher than it was when Trump returned to the White House in January 2025 with a specific mandate to fix it.

“The inflation number last month was not great,” Vance said Wednesday, but he then stressed, “We’re not seeing anything like what we saw under the Biden administration.”

Advertisement

Inflation peaked at 9.1% in June 2022 under Biden, a Democrat. By the time Trump took the oath of office, it was a far more modest 3%.

Trump’s inflation challenge could get harder

The data tells a different story as higher inflation is spreading into the cost of servicing the national debt.

Over the past week, the interest rate charged on 10-year U.S. government debt jumped from 4.36% to 4.6%, an increase that implies higher costs for auto loans and mortgages.

“My fear is that the layers of supply shocks that are affecting the U.S. economy will only further feed into inflationary pressures,” said Gregory Daco, chief economist at EY-Parthenon.

Daco noted that last year’s tariff increases were now translating into higher clothing prices. With the Supreme Court ruling against Trump’s ability to impose tariffs by declaring an economic emergency, his administration is preparing a new set of import taxes for this summer.

Advertisement

Daco stressed that there have been a series of supply shocks. First, tariffs cut into the supply of imports. In addition, Trump’s immigration crackdown cut into the supply of foreign-born workers. Now, the effective closure of the Strait of Hormuz has cut off the vital waterway used to ship 20% of global oil supplies.

“We’re seeing an erosion of growth,” Daco said.

Advertisement
Continue Reading

News

Top Drug Regulator Is Fired From the F.D.A.

Published

on

Top Drug Regulator Is Fired From the F.D.A.

Dr. Tracy Beth Hoeg, the Food and Drug Administration’s top drug regulator, said she was fired from the agency Friday after she declined to resign.

She said she did not know who had ordered her firing or why, nor whether Health Secretary Robert F. Kennedy Jr. knew of her fate. The Department of Health and Human Services did not immediately respond to a request for comment.

The departure reflected the upheaval at the F.D.A., days after the resignation of Dr. Marty Makary, the agency commissioner. Dr. Makary had become a lightning rod for critics of the agency’s decisions to reject applications for rare disease drugs and to delay a report meant to supply damaging evidence about the abortion drug mifepristone. He also spent months before his departure pushing back on the White House’s requests for him to approve more flavored vapes, the reason he ultimately cited for leaving.

Dr. Hoeg’s hiring had startled public health leaders who were familiar with her track record as a vaccine skeptic, and she played a leading role in some of the agency’s most divisive efforts during her tenure. She worked on a report that purportedly linked the deaths of children and young adults to Covid vaccines, a dossier the agency has not released publicly. She was also the co-author of a document describing Mr. Kennedy’s decision to pare the recommendations for 17 childhood vaccines down to 11.

But in an interview on Friday, Dr. Hoeg said she “stuck with the science.”

Advertisement

“I am incredibly proud of the work we were doing,” Dr. Hoeg said, adding, “I’m glad that we didn’t give in to any pressures to approve drugs when it wasn’t appropriate.”

As the director of the agency’s Center for Drug Evaluation and Research, she was a political appointee in a role that had been previously occupied by career officials. An epidemiologist who was trained in the United States and Denmark, she worked on efforts to analyze drug safety and on a panel to discuss the use of serotonin reuptake inhibitors, the most widely prescribed class of antidepressants, during pregnancy. She also worked on efforts to reduce animal testing and was the agency’s liaison to an influential vaccine committee.

She made sure that her teams approved drugs only when the risk-benefit balance was favorable, she said.

The firing worsens the leadership vacuum at the F.D.A. and other agencies, with temporary leaders filling the role of commissioner, food chief and the head of the biologics center, which oversees vaccines and gene therapies. The roles of surgeon general and director of the Centers for Disease Control and Prevention are also unfilled.

Advertisement
Continue Reading
Advertisement

Trending