WHAT YOU NEED TO KNOW:
- Former Vice President Joe Biden loses national standing after a dismal performance in Iowa and New Hampshire caucuses.
- Biden campaign contributors call the situation “an insurmountable hurdle” and threaten to back out if he “continues to underperform”.
- Biden continues to be optimistic amid a weakened stance that causes concern for his campaign.
The former national front-runner Joe Biden finished with a dismal performance in Iowa and New Hampshire, leaving Democratic mega-donors a potential red flag for what is to come.
One donor for the campaign of the former vice president told CNBC, “Even if we stay active for the next two races after another big loss, I suspect the remaining air will leak out of the balloon before Super Tuesday”.
The donor has known Biden for over a decade and requested not to be identified. The interview proceeded on detailing impacts of Biden’s performance in Iowa on his campaign for office, saying that that failure in New Hampshire indicates that the former front runner will face disaster come Super Tuesday on March 3, when 14 states plus American Samoa and the Democrats Abroad will put a third of all delegates in play, including California’s 415 and Texas’ 228.
The concern for Biden’s campaign grows now that donor networks had already begun calling to say that the New Hampshire and Iowa that resulted in the former vice president losing national standing “looks like an insurmountable hurdle”.
“These donors are also saying that they will stop backing Biden’s campaign if he continues underperforming,” the report said.
This is not the case for all campaign contributors as some donors seemingly believe that there is still a chance, largely because Biden polled well with black voters and in South Carolina, where he has enjoyed the most support from Democratic voters thus far. Biden still holds lead over his competitors in the state handily with 31 percent support, according to Real Clear Politics average.
Billionaire businessman Tom Steyer polls in second with 18.5 percent in the state.
Source: New York Post