Politico reports:

President Joe Biden is quickly losing access to the money he will need to stay in the presidential race as a growing number of prominent Democratic officials and donors call for him to drop out.

Money has started to dry up following his disastrous debate with former President Donald Trump, when the president struggled to respond to his opponent’s barrage of verbal attacks and gave incoherent answers, said six Democratic advisers and operatives who work with major donors. Some fundraisers have been canceled, while some donors have threatened to withhold donations until the president drops out, according to the people, who were granted anonymity to discuss internal party matters.

The problem isn’t limited to the party’s big-donor class. Small-dollar fundraising has also dipped in recent days, according to one person with direct knowledge of the internal campaign data. The campaign is now projecting that grassroots fundraising will drop at least 20 to 25 percent over the rest of the month, according to this person.

“This is a massive, massive problem,” the person said. “Right now, we should be scaling up, doubling and tripling our goals as we head into the fall. But we’re cratering.” [Continue reading…]