Interview: Biden Defiant, Says No to Exiting Race and Won’t Commit to Cognitive Test

Rep. Angie Craig latest to urge Biden to end his 2024 re-election bid

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July 06, 2024 02:32 PM

WASHINGTON FOCUS

Lawmakers return as the White House is in defense mode with President Joe Biden defiant in keeping in the 2024 presidential race. Lawmakers will continue their focus on fiscal year (FY) 2025 appropriations.

— The interview Friday with President Joe Biden with ABC’s George Stephanopoulos showed Biden’s refusal to acknowledge the struggles of his campaign and the criticism from within his own party. In the interview, Biden remained adamant that he is the most qualified candidate to defeat Donald Trump and dismissed concerns about his declining poll numbers and cognitive health. He said his daily activities as president prove his cognitive abilities, and he doesn’t see the need for further medical testing. He vowed to drop out only if “the Lord Almighty” told him to… “but the Lord Almighty’s not coming down,” Biden said. He dismissed concerns by Democratic lawmakers as overblown.

Defiance and denial. Biden’s dismissal of polls showing his campaign lagging and his insistence that he has the support of top Democrats contrasts sharply with statements from some party members urging him to reconsider his candidacy. Some Democrats are increasingly vocal about their concerns, with some like Rep. Angie Craig (D-Minn.) openly suggesting Biden should step down. (Craig is trying to fend off a GOP challenger in her district that’s a mix of farmland and suburban sprawl.) Biden was asked what he would do if he was told by top congressional allies that control of the House and Senate might be at risk if you stay in? “They’re not gonna do that,” Biden said. When Stephanopoulos asked, “You’re sure?” Biden was adamant: “Yeah, I’m sure.” The host pressed again — what if your allies say the House and Senate are lost? “I’m not gonna answer that question,” Biden said. “It’s not gonna happen.” The Washington Post reported that Sen. Mark Warner (D-Va.), the Intelligence Committee chair, is organizing Democratic senators to discuss Biden’s future as nominee. House Democratic leader Hakeem Jeffries is convening his committee leaders for a similar conversation. Publicly, Jeffries has remained supportive of Biden, but has been fielding calls from rank-and-file members. A full meeting of the caucus is expected on Tuesday.

Talks with Democratic congressional leaders. Biden said he has talked with Jeffries; Senate Democratic Leader Chuck Schumer (N.Y.), who is in danger of seeing Republicans claim the majority in his chamber; and Rep. James Clyburn (D-S.C.), who saved his candidacy during the 2020 primaries but who has also indicated he would support Vice President Kamala Harris if Biden were to step aside. “They all said I should stay in the race,” Biden told Stephanopoulos.

Biden said the Democratic governors are all for him, noting he met with them on Wednesday and they’re all behind him, an overstatement to some observers.

Biden talked up his record, vowed not to leave the race and took shots at presumptive Republican nominee Donald Trump, whom he repeatedly described as a “pathological liar.” Biden also referred to Trump at one point as a “congenital liar.”

Pressed whether he has a viable shot considering his approval rating of 36%, he replied: “that’s not what our polls show.”

Trump allies seized on a Biden response suggesting he wasn’t sure if he rewatched his debate performance. “I don’t think so,” Biden said. When Biden suggested he recently drew big crowds, Stephanopoulos retorted: “I don’t think you want to play the crowd game. Donald Trump can draw big crowds.”

There is growing tension within the Democratic Party as Biden’s campaign strategy remains unchanged despite a poor debate performance and mostly slipping poll numbers. The president’s unwavering stance and the party’s internal discord signal potential conflicts ahead as Democrats weigh their options for the 2024 election. Asked how he would feel next January if he ultimately loses the race, Biden said: “As long as I gave it my all and I did the goodest job as I know I can do, that’s what this is about.”

David Axelrod, the Democratic strategist, posted on X: “The president is rightfully proud of his record. But he is dangerously out-of-touch with the concerns people have about his capacities moving forward and his standing in this race.”

— President Biden has narrowed his gap with Donald Trump in swing states, trailing by just 2 points, according to a Bloomberg News/Morning Consult poll. Despite a poor debate performance and internal party concerns, Biden leads in Michigan and Wisconsin and is close in other key states. The poll also reveals deep voter misgivings about Biden’s age and mental acuity. While Trump leads in Pennsylvania, the poll shows a narrowing gap among independents, with Biden tying Trump at 40%. Biden’s campaign plans a major ad blitz to counteract these concerns.

— Donald Trump rejected a comprehensive policy agenda, Project 2025, created by some of his former White House advisers. Despite Trump’s dismissal of the project, which he claims to know nothing about, it involves prominent figures from his previous administration and proposes significant changes to the federal government. These changes include replacing civil servants with Trump loyalists and potentially shutting down some agencies.

Project 2025 is spearheaded by Paul Dans, a former chief of staff at the U.S. Office of Personnel Management under Trump, and involves other key figures like Ben Carson, Chris Miller, Stephen Moore, Peter Navarro, and Russ Vought. The initiative aims to prepare Republicans for retaking the White House by developing policy proposals and training personnel for swift implementation if Trump wins the 2024 election.

A furor erupted after Kevin Roberts, president of the far-right Heritage Foundation, suggested political violence as part of a “second American revolution,” claiming it would “remain bloodless if the left allows it to be.” In response, Trump quickly distanced himself from the project.

Trump’s rejection of the project comes amid concerns and criticisms from both Democrats and some Republicans. The Biden campaign has labeled Project 2025 as an “extreme policy and personnel playbook” that poses a significant threat. Meanwhile, Project 2025’s leaders assert their independence from any specific candidate, positioning themselves as a coalition advocating for conservative policies for the next president.

Trump said in a post on his Truth Social website Friday that he “know[s] nothing about Project 2025″ and has “no idea who is behind it.” “I disagree with some of the things they’re saying and some of the things they’re saying are absolutely ridiculous and abysmal. Anything they do, I wish them luck, but I have nothing to do with them,” Trump said.

Of note: What about Trump’s repeated statements about 10% across-the-board tariffs? Some Republicans describe it as a negotiating position rather than a concrete policy proposal.

OTHER EVENTS & HEARINGS

Monday, July 8

· China and Covid origins. Heritage Foundation discussion on “Holding China Accountable for Its Role in the Most Catastrophic Pandemic of Our Time: Covid-19.”

· UFLPA enforcement. Center for Strategic and International Studies virtual discussion on “New Frontiers in UFLPA (Uyghur Forced Labor Prevention Act) Enforcement.”

· UK elections. Atlantic Council virtual discussion on “Debriefing the UK Elections.”

· Rural health issues. American Enterprise Institute for Public Policy Research virtual discussion on “issues facing rural America,” focusing on health and addiction challenges, as part of the On the Front Porch series.

· NATO in a new era. Foreign Policy forum on NATO in a New Era: Reassessing Transatlantic Security.

· Global threats. Hudson Institute discussion on “Threats to the U.S.-led World Order.”

Tuesday, July 9

· Federal Reserve. Fed Chairman Jerome Powell delivers first of two days of testimony on the Monetary Report to Congress before the Senate Banking, Housing, and Urban Affairs Committee. Fed Vice Chair for Supervision Michael Barr to speak on Financial Inclusion: Past, Present, and Hopes for the Future; Fed Governor Michelle Bowman to speak on Promoting an Inclusive Financial System.

· NATO summit. NATO Summit in Washington, DC; runs through Thursday.

· International financial system. House Financial Services Committee hearing on “The Annual Testimony of the Secretary of the Treasury on the State of the International Financial System.” Treasury Secretary Janet Yellen testifies.

· FY 2025 Budget: Commerce, Justice, Interior, Environment, Energy. House Appropriations Committee markup of the FY 2025 Commerce, Justice, Science, and Related Agencies bill; the FY 2025 Interior, Environment, and Related Agencies bill; and the FY 2025 Energy and Water Development and Related Agencies bill.

· FY 2025 Budget: FCC. House Energy and Commerce Communications and Technology Subcommittee hearing on “The FY 2025 Federal Communications Commission Agency Budget.” FCC Chairwoman Jessica Rosenworcel and other FCC Commissioners testify.

· FY 2025 Budget: FTC. House Energy and Commerce Innovation, Data, and Commerce Subcommittee hearing on “The FY 2025 Federal Trade Commission Budget.”

· U.S. budget outlook. Senate Budget Committee hearing on “Examining CBO’s Updated 2024-2034 Budget and Economic Outlook.” CBO Director Phillip Swagel testifies.

· Humanitarian aid in Gaza. Center for Strategic and International Studies virtual discussion on “A Complete Impasse — Gaza: The Human Toll,” focusing on health and humanitarian aid.

· NATO outlook. Carnegie Endowment for International Peace discussion on “Is NATO a Good Deal? Making the Case for the Alliance to the Public.”

· World Bank and developing economies. Center for Global Development and the World Bank hold 2024 Bank Conference on Development Economics. Runs through Wednesday.

· Iran threat to NATO security. Hudson Institute discussion on “The Iran Threat to U.S./NATO Security.”

· China/Russia alliance. German Marshall Fund of the United States virtual discussion on a new report, “China/Russia Alignment: A Threat to Europe’s Security.”

· U.S. foreign policy issues. Hudson Institute discussion on “America’s Foreign Policy Challenges.”

· Inflation impacts on families. Senate Health, Education, Labor and Pensions Children and Families Subcommittee hearing on everyday expenses and everyday Americans, focusing on how high costs impact children and families.

· Russia/Ukraine and NATO summit. Council on Foreign Relations discussion with Danish Prime Minister Mette Frederiksen on “transatlantic cooperation, Russia’s war in Ukraine, and her priorities for the NATO Summit in Washington.”

· Restoring NATO. Heritage Foundation discussion on “Not Your Grandfather’s NATO: Restoring the Alliance.”

· Solar tariffs. American Council on Renewable Energy and Clean Energy Associates virtual discussion on “New Analysis on Potential Solar Tariffs,” focusing on “the impact of new potential Antidumping and Countervailing Duties (AD/CVD) on solar cells and modules from Southeast Asia.”

· UFLPA enforcement issues. Center for Strategic and International Studies virtual discussion on “New Frontiers in UFLPA (Uyghur Forced Labor Prevention Act) Enforcement.”

· Project 2025. Center for American Progress virtual forum on “Project 2025: Exposing the Far-Right Assault on America.”

· NATO and the Transatlantic alliance. Cato Institute conference on “NATO at 75: Rebalancing the Transatlantic Alliance.”

· UK and French elections. The Council on Foreign Relations virtual media briefing on “Update on UK and France Elections and NATO Summit.”

· Border security. House Homeland Security Border Security and Enforcement Subcommittee and Oversight, Investigations and Accountability Subcommittee joint hearing on “Smart Investments: Technology’s Role in a Multi-Layered Border Security Strategy.”

· CARB regs. House Transportation and Infrastructure Railroads, Pipelines and Hazardous Materials Subcommittee hearing on “An Examination of the California Air Resources Board’s (CARB) In-Use Locomotive Regulation.”

· Immigration issues. Senate Republicans discussion on “The Exploitation Crisis: How the U.S. Government is Failing to Protect Migrant Children from Trafficking and Abuse,” focusing on “the failures of the Department of Health and Human Services’ Unaccompanied Children Program.”

Wednesday, July 10

· Federal Reserve. Fed Chair Jerome Powell delivers his second day of testimony on the Monetary Report to Congress before the House Financial Services Committee. Fed Governor Michelle Bowman to deliver opening remarks at Chicago Fed event; Fed Governor Lisa Cook to speak on Global Inflation and Monetary Policy Challenges in Australia; Chicago Fed President Austan Goolsbee scheduled to speak.

· EPA impact on agriculture. House Ag Committee hearing on “Examining the Consequences of EPA’s Actions on American Agriculture.”

· FY 2025 Budget: USDA, FDA, HHS, Transportation, HUD. House Appropriations Committee markup of the FY 2025 Labor, Health and Human Services, Education, and Related Agencies bill; the FY 2025 Transportation, Housing and Urban Development, and Related Agencies bill; the FY 2025 Agriculture, Rural Development, Food and Drug Administration, and Related Agencies bill; and FY 2025 Revised Subcommittee Allocations.

· Rural infrastructure. Senate Ag Rural Development and Energy Subcommittee hearing on “The State of Rural Infrastructure: Emergency Response, Recovery, and Resilience.”

· EPA oversight. House Oversight and Accountability Committee hearing on “Oversight of the U.S. Environmental Protection Agency.” EPA Administrator Michael Regan testifies.

· Francis Scott Key Bridge collapse. Senate Environment and Public Works Committee hearing on “The Response to the Francis Scott Key Bridge Collapse on March 26, 2024.”

· NATO public forum. Atlantic Council, the Center for a New American Security (CNAS), the German Marshall Fund of the United States), GLOBSEC and the Hudson Institute hold the 2024 NATO Public Forum; runs through Thursday.

· Small business challenges. House Small Business Committee hearing on “Main Street Realities: Examining the Current Economic Landscape in America.”

· Interior nomination. Senate Energy and Natural Resources Committee hearing on the nomination of Shannon Estenoz to be deputy Interior secretary.

· AGOA renewal. Washington International Trade Association virtual discussion on “Trade and Development: Renewing AGOA (African Growth and Development Act), HOPE/Help for Haiti, and GSP (Generalized System of Preferences).”

· Energy invention. United States Energy Association virtual media briefing on “Electron Renaissance: A Rebirth of Invention in the Energy Space.”

· Supreme Court rulings. Heritage Foundation Scholars and Scribes discussion on “The Rulings: The Supreme Court’s 2023-2024 Term.”

· China overcapacity. Council on Foreign Relations discussion on “U.S./China macroeconomic engagement and dialogue with Chinese leadership on overcapacity and economic imbalances.”

· Climate and trade summit. Bipartisan Policy Center Climate and Trade Summit.

· OMB rulemaking. Virtual meeting of the Office of Information and Regulatory Affairs to receive public input on the public’s experience engaging with agency’s rulemaking processes since the memorandum’s release, July 10 and July 17.

· China/Taiwan. United States Institute of Peace virtual discussion on “China-Taiwan Competition: Why It Matters for Peace and Stability in the Pacific.”

Thursday, July 11

· Federal Reserve. Atlanta Fed President Raphael Bostic and St. Louis Fed President Albert Musalem scheduled to speak.

· FY 2025 Budget: Legislative Branch, USDA, FDA, MILCON. Senate Appropriations Committee markup of 302(b) Subcommittee allocations; the “Legislative Branch Appropriations Act, 2025"; the “Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act, 2025"; and the “Military Construction, Veterans Affairs, and Related Agencies Appropriations Act, 2025.”

· U.S. food policy. Food Tank virtual discussion on the state of food policy in the United States, anti-hunger solutions, policies and programs helping us advance Food is Medicine initiatives, and efforts to end food loss and waste.”

· Urban agriculture panel. Natural Resources Conservation Service holds a meeting of the Urban Agriculture and Innovative Production Advisory Committee for administrative matters, presentations from the UAIPAC or Agricultural Department staff and deliberations for proposed recommendations and plans.

· Climate change. Energy Department virtual meeting of the President’s Council of Advisors on Science and Technology to discuss resilience against climate change, impacts of research on society, and others and to discuss and consider for approval a letter on the Federal STEM Workforce.

· South China Sea summit. Center for Strategic and International Studies 14th annual South China Sea Conference.

· SEC, FDIC nominations. Senate Banking, Housing and Urban Affairs Committee hearing on the nominations of Christy Goldsmith Romero to be chair and member of the Federal Deposit Insurance Corporation Board of Directors; Caroline Crenshaw to be a member of the Securities and Exchange Commission; Kristin Johnson to be assistant Treasury secretary for financial institutions; and Gordon Ito to be a member of the Financial Stability Oversight Council.

· Israel/Hezbollah conflict. Arab Center holds a virtual discussion on “The Looming Israel/Hezbollah War: Prospects, Deterrence, and Impacts.”

· Virus research. Senate Homeland Security and Governmental Affairs Committee hearing to examine the U.S. taxpayer funded high-risk virus research.

Friday, July 12

· Europe security. American Enterprise Institute for Public Policy Research discussion on “Europe’s Security After the Washington Summit.”

· Israel missile defense. Center for Strategic and International Studies virtual discussion on “Israel’s Missile Defense Engagements Since October 7th.”

· Post NATO summit issues. Atlantic Council virtual discussion on “Next Steps for Transatlantic Cooperation Post-NATO Summit.”

ECONOMIC REPORTS & EVENTS

U.S. inflation data (Thursday CPI; PPI on Friday) and the first handful of second-quarter results will be the highlights for investors. Meanwhile, Federal Reserve Chairman Jerome Powell sits for two days of testimony before lawmakers. He’ll start on Tuesday before the Senate Committee on Banking, before moving to the House Financial Services Committee on Wednesday.

Monday, July 8

Consumer Credit

Tuesday, July 9

NFIB Small Business Optimism Index

Wednesday, July 10

MBA Mortgage Applications
Wholesale Trade

Thursday, July 11

Jobless Claims
CPI
Treasury Budget
Fed Balance Sheet
Money Supply

Friday, July 12

· PPI-FD
· Consumer Sentiment

KEY USDA & INTERNATIONAL AG & ENERGY REPORTS & EVENTS

USDA’s updated balance sheets on Friday, July 12, will reflect adjustments to old-crop demand forecasts based on June 1 stocks. There will be major changes on the new-crop balance sheets to reflect planted acreage figures. The first all-wheat crop estimate will include the first survey-based forecasts for other spring wheat and durum.

In the energy sector, the three major oil forecasters — OPEC, the EIA and the IEA — will publish their monthly market outlooks this week. Meanwhile, Indian Prime Minister Narendra Modi is expected to visit Russian President Vladimir Putin.

Monday, July 8

Ag reports and events:

CFTC Commitment of Traders report (delayed from Friday)
Export Inspections
U.S. Agricultural Trade Data Update
Crop Progress
Unica cane crush, sugar production (tentative)