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Top business executives call on Biden to end reelection bid: 'Pass the torch'

A group of leading business leaders sent a letter to President Biden on Friday urging him to end his reelection campaign following his poor performance in last week’s debate.

As of Friday morning, the letter had been signed by 186 people concerned about the country’s future.

“We believe that American democracy itself is at stake this November and is at risk of suffering catastrophic losses,” the letter read.

The group, made up of top-level leaders from organizations across the country, joined a growing list of people calling on the sitting president to step down this fall and give someone else a chance.

Biden’s poor performance in last Thursday’s debate with former President Trump — in which he lacked energy, sounded hoarse and seemed to lose his train of thought — has sparked widespread uncertainty among Democrats not only about whether the president can beat Trump at the polls this fall, but also about whether he can handle the job for another four years.

Biden and his team insist they have no plans to back down.

In their letter, the groups praised the president for his decades of service and said his work will be remembered as having saved democracy from a major threat.

“To ensure that legacy is secure, we ask that you cease seeking reelection and pass the torch of leadership to the next generation of Democratic leaders,” the letter said.

The group, made up of members of the Leadership Now Project and “like-minded business and civic leaders” committed to defending democracy, has been vocal about the threat Trump poses and the risks he poses if re-elected, including “global and domestic instability, abandonment of allies, crony capitalism, political retaliation, and further erosion of the rights of women and other groups,” the letter said.

“At this critical moment for the nation, the time has come to cement your legacy by passing the baton, just as George Washington did,” the group wrote. “For the sake of our democracy and the future of our nation, we respectfully urge you to withdraw from running.”

Julia Shapero contributed reporting.

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