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Steve Forbes says Biden won’t be the 2024 Democratic nominee due to poor economy

By Sarah May
|
May 28, 2023

Though President Joe Biden officially launched his reelection campaign late last month, noted media mogul Steve Forbes has come forward to state his belief that the current commander in chief will not be the Democratic Party's nominee in 2024 when all is said and done, as the Daily Mail reports.

Forbes' statement during a Friday appearance on Fox News' America's Newsroom, when he outlined the numerous headwinds – particularly economic ones – he believes Biden faces when it comes to securing a second term.

Economic Woes Persist

In Forbes' estimation, the economic obstacles that continue to plague the nation are likely to doom Biden's prospects within his own party, despite the built-in advantage incumbency typically brings.

Explaining further, Forbes began, “I think what's happening with the economy, even though it's not officially in a recession, it's sort of the economic equivalent of walking pneumonia. Not enough to put you in bed yet, but just dragging you down, draining the energy.”

The chairman of Forbes Media continued, “I think there is economy fatigue, one thing after another. So, inflation has come down a little bit. Prices are still going up. Wages aren't going up fast enough.”

“There's a feeling the country is adrift,” Forbes further lamented.

“These People are out of Control”

Forbes also pointed to what he feels is a sense among the electorate that Washington leaders have abdicated their responsibilities when it comes to getting a grip on the economy.

“These whole negotiations on the debt ceiling, my goodness! They can't control spending even though it's $2 trillion higher than it was a couple of years ago,” Forbes added. “People just throw their up their hands and say these people are out of control.”

According to Forbes, Americans are well aware of the flagging state of the economy not just through the upward trajectory of their costs of everyday living, but also due to an increasing sense of panic over the debt ceiling stalemate that experts have been warning could produce far-reaching and catastrophic consequences.

The stalemate that has persisted between House Republicans and the White House and prevented a debt limit deal well before the June 1 deadline promulgated by the Treasury Department has, Forbes believes, only added to a growing perception of ineffectiveness at the top.

“They Cannot Have Him Running”

As a result of voters' negative perceptions of the economy, Forbes believes that the Democratic Party simply cannot continue with Biden as its standard-bearer going into the next presidential cycle.

“And I think that's why next year, Joe Biden will not be the Democratic Party nominee,” Forbes opined.

“Because the economy – yeah, they can sweep the Hunter stuff away – but that has a stench out there,” he added, referencing the ongoing investigation of the president's son and his questionable business dealings and tax affairs.

“So, you have a poor economy, you have a president people feel is not up to the job anymore, certainly not for the next four years. So I don't know what the scenario is going to be, but they cannot have him running in November of 2024,” Forbes concluded.

Foreboding Poll Numbers

It is not just Forbes who has turned sour on Biden's 2024 prospects, with a host of recent poll results portending early – yet still potentially serious – trouble for his reelection bid.

A recent Fox News poll found that a staggering 83% of voters declared the economy to be in fair or poor shape, a number that has worsened by 5 points in the last month and 14 points since April of 2021. In addition, two-thirds of respondents gave a negative assessment of their personal financial circumstances, never a good sign for an incumbent president hoping for reelection.

Recent polling from CNN did not paint a much better picture for Biden's current status among the electorate, with a majority of respondents opining that it would be a “setback” or even a “disaster” if he were to win another four years in the White House.

Even liberal anchor Jake Tapper could not couch the potentially devastating implication of those results, admitting that the poll contained, “horrible news, horrible for Joe Biden,” and with a recent NBC News survey indicating that seven out of 10 Americans do not even want the current president to stand for reelection, Forbes' prediction that the Democrats could actively seek an alternative may ultimately prove prescient.