MNI POLITICAL RISK - Biden Struggles To Avert Rebellion

Executive Summary:

• The temporarily reinforced dam around US President Joe Biden again threatens to burst after former House Speaker Nancy Pelosi (D-CA) declined to endorse Biden during an interview with MSNBC’s Morning Joe yesterday, precipitating another ‘mini-wave’ of public and private statements from Democrat lawmakers calling on Biden to step aside.
• The prevailing view is that there is near-unanimity in the Democrat ranks that Biden likely cannot win re-election in November and shouldn’t be the nominee. Biden’s survival may now hinge on Democrats resolving the collective action problem that is preventing an open rebellion.
• 17:30 ET 22:30 BST, Biden will deliver a major press conference. He will be off-script, off teleprompter, and under press scrutiny for the first time since the presidential debate.
• House Oversight Chair James Comer (R-KY) has subpoenaed three members of Biden’s inner circle to be deposed on his health.
• House Speaker Mike Johnson (R-LA) yesterday met with Ukrainian President Volodymyr Zelenskyy for the first time since he pivoted on Ukraine aid and marshalled a new funding package for Kyiv in April.
• US Secretary of State Antony Blinken said that F-16 fighter planes will be, “flying in the skies of Ukraine this summer.”
• The Treasury Department and IRS announced a USD$1 billion windfall from new capacity granted by the Inflation Reduction Act.
• Former President Donald Trump will deliver a speech at a Bitcoin conference on July 27, a sign of Trump’s growing embrace of the crypto sector.
• Poll of the Day: Vice President Kamala Harris leads Trump 49-46.

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MNIPOLRISKUSDaily110724.pdf