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literally because he had that optically bad "debate" where he couldn't even deliver the talking points to make donors happy
He's also historically, horrifically unpopular and anyone paying attention has seen he has essentially no chance to win since even before the genocide in Gaza began but especially since then his popularity has PLUMMETED mostly because he was isolated and pretending pro-Palestine protests were fringe and small and unpopular when they really weren't.
His own party was polling 80% that Israel had to be forced into a ceasefire- and nevertheless he persisted with mass murder.
A similar portion said they wanted to recognize a Palestinian state- again, nevertheless he persisted.
Month after month straight into hell went his approval.
He took a "close, but winnable" election and cranked it down down down to where it is now where like 8 different planets need to align for him to win. Something those paying attention have been saying since a least a year ago and more. Just took an amazing fuck up to embarrass and motivate the donors to gtfo.
Donors are happy as long as their agenda is advanced and Biden being unfit for office doesn't really effect that, what made donors unhappy is waking up to the reality that voters don't like Biden and he can't win. It's the backdrop of immense voter dissatisfaction and months of rank-and-file action against him that is causing donors to freak out, the debate was merely the straw that broke the camel's back.