He may still be a more reliable President than Donald Trump, three years younger than he is - but that says more about Mr Trump than anything else. Nor will it be easy to convince American voters that Mr Biden is worth voting for at this stage.
Yet replacing someone on the ticket at this late stage is not easy in the United States.
It is just one way in which the US's constitutional system is poorly adapted to the modern age. The comparison with, say, the United Kingdom which has several times been able to change how leaders of its parliamentary parties, and thus Prime Ministers, are chosen is worth noting. The US has far more rigid institutions and precedents. It is thus, paradoxically, far more likely to elect a would-be dictator.
Three large democracies are likely to elect new leadership in the coming months. In all three, the incumbents seem to have been guilty of horrific misjudgements. President Biden, clearly, should have started planning for a succession years ago: Few expected in 2020 that he would want to serve a second term in office, and assumed he was just running for a single term to stop Mr Trump from re-election.
This story is from the June 29, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the June 29, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Finance World's Question To Self: Too Many Regulators Within?
From fintech to urban cooperatives, a host of industry associations have expressed interest in becoming self-regulatory organisations
Mid-year portfolio review: Trim equity exposure after surge
Enhance term cover if liabilities have increased; boost health coverage to match medical inflation
Perils of keeping surplus money in bank accounts
In the 1970s, Jack, a United States (US) citizen, wanted to marry Anna, a citizen of the Communist Soviet Union.
'Government unlikely to choose fiscal profligacy'
\"You will not lose money if you take a medium-to-long-term view of India.But in the short term, I am not comfortable, as the current rally is purely liquidity-driven,\" observes RAJ BHATT, chairman and chief executive officer of Elara Capital. In an interview with Sundar Sethuraman, Bhatt says India stands out globally because of its financial discipline. Edited excerpts:
The quiet achiever: Conservative by nature, bold in returns
UTI Money Market Fund, launched in April 1997, has consistently ranked in the top 30th percentile of the money market fund category in the CRISIL Mutual Fund Ranking (CMFR) for three consecutive quarters through March 2024.
Jubilant to deliver extra cheese on value, with slice of pizza recovery
Domino's Indian franchise gains steam as pizza outpaces burger rivals amid shifting market dynamics
They came, they conquered
After World T20 win, Indian cricket begins transition period with Sharma, Kohli and Jadeja announcing retirement from shortest format in international cricket
A milestone on bond street
India's entry into the global bond index is a great sentiment-booster, but much of it has already been factored in
BALANCING ACT
After a challenging year post-merger, HDFC Bank looks poised for a strategic path forward
Window opens to give urban cooperative banks an uplift
In many countries, cooperative credit societies - also known as credit unions - have established significant importance and presence.