Biden Confronts Political Future Amid Growing Pressure, Debate Setback

President Joe Biden and the First Lady Jill Biden will host a Fourth of July celebration at the White House tonight for military and veteran families.

It comes amid growing concern over his political future following his poor performance at last week's debate. Erica Brown has more on key figures calling for Biden to drop out of the race.

Reed Hastings, a Democratic megadonor, is the latest voice to call on President Biden to withdraw from the race following last week's debate. It's a sentiment echoed by another democratic donor, Whitney Tilson of New York City.

"Our only hope of defeating Donald Trump and avoiding a 4-year national nightmare is for Joe Biden to do the right thing: step aside," Tilson said.

It's not just donors. A second house democrat, Arizona progressive Raul Grijalva, urged the president to withdraw saying, "What he needs to do is shoulder the responsibility for keeping that seat, and part of that responsibility is to get out of this race."

In a radio interview, Biden acknowledged his poor debate performance.

"I had a bad night. And the fact of the matter is that, you know, it was - I screwed up. I made a mistake," Biden said.

But he is vowing to remain in the race. Wednesday night, he met with more than 20 Democratic governors to shore up their support.

"The president has always had our backs. We're going to have his back as well," said Governor Wes Moore of Maryland.

"President Joe Biden is in it to win it. And all of us said we pledged our support to him because the stakes could not be higher," said Governor Kathy Hochul of New York.

On Friday, he will try to convince voters of his fitness for office and his ability to win re-election with two events: a rally in Wisconsin and a network television interview.