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Majority of Democratic voters don’t want President Biden to run for re-election in 2024

Yahoo Finance columnist Rick Newman assesses the likelihood of President Biden running for re-election and the outlook on several potentially tight midterm races this year.

Video Transcript

[MUSIC PLAYING]

- Inflation still hot while the economy is cooling down-- far from ideal conditions for President Biden. A "New York Times" poll revealing 64% of Democrats actually prefer a different candidate in 2024. Senior columnist Rick Newman is here with us. Rick, that is an ugly number. Is it time for Biden to announce he will not run and let this field begin to take shape?

RICK NEWMAN: No, it's not time for him to do that, even if-- even if that's what his plan is. Biden would instantly become a lame-duck President with diminished political power if he were to say "I'm one and done. I'm not going to run again in 2024."

My best guess is Biden will not run again. But everybody who says he needs, you know, he needs to just get out and announce this right now I think is way premature. The time for Biden to say I'm going to finish up my term and call it a day would probably be 2023.

Let's get through the midterm elections. Let's see what kind of Congress we have next year. And, you know, in the year prior to the 2024 election would be the time for Biden to say I'm bowing out.

But that poll you just mentioned in the "Times" today, I mean, there's just massive dis-- dissatisfaction with Bi-- Biden, even among-- see, I don't know why I'm stumbling here. I'm mimicking Biden in a way-- even among people who voted for him. So Democrats kind of have buyer's remorse, and they want somebody they think is younger and more up to the job.

RACHELLE AKUFFO: Democrats are not the only ones looking for an alternative. We're also seeing that President Trump's voters are showing more of an openness to DeSantis. What are we seeing there?

RICK NEWMAN: Yeah, President Trump's political fortunes are clearly fading. Now he still remains the most important figure in the Republican Party, but it's clear that there's a battle underway for what comes after Trump. And Trump, of course, wants to exert his political influence for as long as he can. Among other things, that's helping him raise a lot of money for his political action-- political action campaign, which gives him political power. And probably it also helps his-- his personal businesses make money, because of name recognition, and he's just out there.

But we're seeing in the primaries already this year, there's a big fight underway among the Trumpy candidates who want to-- want to get the nominations. And in a few instances where Trump-backed candidates do-- either have gotten the nomination so they will be running in the general election, or they seem likely to, they're in poor shape against the Democrats because they are fairly extreme candidates. I think the case study for this is going to be the Senate race in Georgia, where Herschel Walker is the Republican and he is a Trump favorite. And [AUDIO OUT] time in actually 2020 elections, but that landed 2021.

So that looks like it-- that's the kind of seat Republicans need to win if they're going to take control of the Senate, and it looks like they're going to have a lot of trouble doing that. So the one bright spot for Democrats is, they may be able to hold on to the Senate in November and even pick up a couple of seats.

- Yeah, Herschel Walker has had some serious stumbles, man. I want to get back to 2024 on top of the ticket and the question of who's next-- not clear on either side. You mentioned Trump, but it looks like a Ron DeSantis match-up against whom. And here's a hint who it could be, with an ad running in Florida.

- I urge all of you living in Florida to join the fight. Or join us in California, where we still believe in freedom-- freedom of speech, freedom to choose, freedom from hate, and the freedom to love.

- Rick, what do you make of that ad, and could that be the 2024 match-up-- Governor Gavin Newsom of California taking on DeSantis?

RICK NEWMAN: He looked like a certain future presidential candidate before COVID. He's charismatic. He's had a rapid upward trajectory. And then he had some problems during COVID, which, if he runs for President in '24, we're definitely going to be hearing about.

So Democrats have-- Democrats are going to have to decide. He-- he notoriously went to some co-- fancy COVID part-- or fancy parties he wasn't supposed to go to when they were not supposed to be allowed because of COVID lockdowns he himself put in place. So he violated his own rules during COVID, and that is something he would have to overcome.

Now, I suppose you could say that was, yeah, it was a long time ago. He probably will say, look, I made a mistake. American voters can be forgiving if they think you've got a lot going for you.

And in that ad you just-- we just listened to, Dave, he used the word "Fight." And he-- he's taking the fight to Florida, and I think that's something Democrats really want-- they want a fighter running for President. And I think that's one of the problems Biden has right now, is he just does not seem like a fighter. He seems like an incrementalist. He seems like he's just waiting for things to improve, and he's not on the attack.

- Yeah, that has been the criticism, whether it's guns, whether it's abortion, whether it's the economy. Going to be a struggle to get that 33% poll number up. Rick Newman, good to see you, sir. Thank you.

RICK NEWMAN: Bye, guys.