Should Joe Biden withdraw his candidacy?
After Joe Biden's presidential debate appearance on TV, it's left people asking if he's fit to run in the election
Joe Biden met with Democratic governors recently as the president faces “increasingly concerning polls and growing calls to withdraw his candidacy” following a “calamitous debate performance” against Donald Trump, say Robert Tait and Sam Levin in The Guardian.
Biden has blamed his “garbled” and “low energy” performance on jet lag from international travel, but there are reportedly 25 Democratic members of the House of Representatives preparing to call for Biden to step aside, and one Texas congressman already demanding that he stand down. Polls suggest that one in three Democrats think Biden should go.
What would Joe Biden leaving mean for the Democrats?
Replacing Biden might not provide the electoral boost that Democrats are hoping for, says David Charter in The Times. Even the poll showing that many Democrats want him to quit revealed that no prominent elected Democrat would do any better against Trump, although former first lady Michelle Obama did have a large hypothetical lead. Interestingly, the poll also found that Biden’s “disastrous” and “stumbling” debate performance hadn’t harmed him as much as many think – Biden and Trump “remain neck and neck among all registered voters”.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
There is no good option now for Democrats, says Janan Ganesh in the Financial Times. If they choose someone else to run, they are essentially saying: “We tried our utmost to sneak an untenable candidate past you but the scrutiny of a live television debate foiled us. Ah well, here’s his replacement.” But letting him run would be worse, as his age-related “glitches of speech and manner, glaring enough already”, are only likely to get worse.
Some 72% of registered voters think he hasn’t the wherewithal to be president. The Democrat failing to find a replacement for Biden, which should have begun as soon as he was elected, is of a piece with the modern left: whenever it becomes obvious that something must be done, they find a way to avoid doing it.
Where is Donald Trump in the race?
While Biden was struggling to finish his sentences and stay in the race, the Supreme Court dealt a “major blow” to one of the efforts to prosecute Donald Trump for election interference, says Jess Bravin in The Wall Street Journal. The court ruled that former presidents “enjoy sweeping immunity” for official acts while in office.
Lower courts will now have to draw the boundaries between what counts as official and unofficial, but the ruling pushes the trial beyond the November election. It’s been accepted for decades “that a president is immune from civil liability for actions taken in office”, says an editorial in the Financial Times.
But the court has now extended that principle, arguing that an “energetic, independent” executive should not be deterred from taking necessary action by concerns over potential criminal prosecution after leaving office. The court’s ruling shunts responsibility for holding the president to account to the Senate and House of Representatives.
But by prioritising an “energetic” presidency over an accountable one, “the court’s conservative justices have chipped away at a central pillar of the American system”.
This article was first published in MoneyWeek's magazine. Enjoy exclusive early access to news, opinion and analysis from our team of financial experts with a MoneyWeek subscription.
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
Matthew graduated from the University of Durham in 2004; he then gained an MSc, followed by a PhD at the London School of Economics.
He has previously written for a wide range of publications, including the Guardian and the Economist, and also helped to run a newsletter on terrorism. He has spent time at Lehman Brothers, Citigroup and the consultancy Lombard Street Research.
Matthew is the author of Superinvestors: Lessons from the greatest investors in history, published by Harriman House, which has been translated into several languages. His second book, Investing Explained: The Accessible Guide to Building an Investment Portfolio, is published by Kogan Page.
As senior writer, he writes the shares and politics & economics pages, as well as weekly Blowing It and Great Frauds in History columns He also writes a fortnightly reviews page and trading tips, as well as regular cover stories and multi-page investment focus features.
Follow Matthew on Twitter: @DrMatthewPartri
-
Pension warning: one in five don’t know how much is going into their pension
How to check your pension contributions and why it matters
By Katie Williams Published
-
50,000 power of attorney applications rejected – how to avoid common mistakes
A freedom of information request shows that thousands of lasting power of attorney (LPA) applications are rejected due to errors. We explain how to avoid mistakes and reveal tips to make the process as straightforward as possible
By Ruth Emery Published
-
What Trump's presidential election win means for the US economy
What will Trump's US presidential election win actually mean for Americans and the rest of the world?
By Stuart Watkins Published
-
Media mogul James Dolan takes straight shot at the limelight
Controversial media mogul James Dolan has been hailed as a visionary for his Sphere arena in Las Vegas. But can he square the circle financially?
By Jane Lewis Published
-
US election – is the Trump Trade back?
The US election is around the corner. How does Trump influence US markets?
By Alex Rankine Published
-
A bull market on borrowed time
While the US enjoys a bull market, it may not last. Will the US rate cut push stock prices down?
By Alex Rankine Published
-
Pfizer shares rise as US investor takes $1 billion stake
Pfizer shares are on the up since US activist investor Starboard Value built up a stake in the drug maker. But strategic options appear limited
By Dr Matthew Partridge Published
-
Jimmy Carter makes history as the first former US president to turn 100
When Jimmy Carter left office, few would have predicted an outbreak of national affection for the former president’s 100th birthday four decades later. But his legacy is worth celebrating
By Jane Lewis Published
-
Eric Adams: the New York City mayor charged with corruption
Controversy and accusations of corruption have followed Eric Adams in his rise to the mayoralty of New York City. Now he has been charged with a federal crime.
By Jane Lewis Published
-
The US election has witnessed more political violence, just how ugly could it get?
US Election Donald Trump is at the center of the US election yet again, but not for good reason. Will there be a peaceful handover of power in 2025?
By Dr Matthew Partridge Published