Still Another Headache for Biden — Friction With VP Harris

by Greg Valliere, AGF Management Ltd.

November 15, 2021

WASHINGTON WAS BUZZING this weekend over reports that President Biden’s aides are exasperated over Vice President Kamala Harris and her staff. This couldn’t come at a worse time for the beleaguered White House.

FRICTION HAS BEEN SIMMERING for weeks, and all the dirty laundry was aired on the CNN web site yesterday, detailing grievances from both camps. The Washington Post chimed in, with a piece on who might succeed the reeling Biden — Harris or rising star Pete Buttigeig?

IF NOTHING ELSE, THIS FRICTION HIGHLIGHTS a growing belief in both parties that Biden may not run again for the presidency. He would be 86 years old at the end of a second term.

HARRIS WOULD BE A LOGICAL SUCCESSOR, but she’s now in the middle of a controversy — has she been marginalized by Biden’s staff, or does she lack the gravitas for the job? She definitely has kept a low profile; her aides say she hasn’t been given much to do, while Biden’s team complains about her staff.

THIS COMES AS SPECULATION GROWS about who might be in line for the nomination in 2024 if Biden doesn’t run. Candidates other than Harris and Buttigeig probably would include Cory Booker, Elizabeth Warren, Amy Klobuchar, Julian Castro, Gavin Newsom, and Michigan Gov. Gretchen Whitmer.

A HUGE NUMBER OF REPUBLICANS ALSO may run in 2024 if Donald Trump, 75, surprises the political world and bows out. Florida Gov. Ron DeSantis is the most likely alternative, although a dozen other Republicans may run, including Chris Christie, who leads the “let’s move on from Trump” chorus that has recently gotten louder.

THE BELEAGUERED BIDEN should have a good day today, signing the infrastructure bill and talking with Xi Jingping at 7:45 p.m., a virtual meeting that could lower tensions between the U.S. and China, even if there are no dramatic results.

BIDEN CANNOT AFFORD any further foreign policy stumbles like the Afghanistan withdrawal. He also faces high inflation for a few more months, with the president’s Build Back Better plan stalled in the Senate even if the House passes it within the next week.

BIDEN’S BIGGEST IMMEDIATE HEADACHE is a shocking free-fall in his polling numbers. Republicans are likely to recapture the House — perhaps easily — next fall, and they have a chance to take the Senate as well. A year from now, after those elections, Biden will turn 80 and Harris inevitably will be in the conversation as Washington considers succession.

 

 

 


The views expressed in this blog are those of the author and do not necessarily represent the opinions of AGF, its subsidiaries or any of its affiliated companies, funds or investment strategies.

The views expressed in this blog are provided as a general source of information based on information available as of the date of publication and should not be considered as personal investment advice or an offer or solicitation to buy and/or sell securities. Speculation or stated believes about future events, such as market or economic conditions, company or security performance, or other projections represent the beliefs of the author and do not necessarily represent the view of AGF, its subsidiaries or any of its affiliated companies, funds or investment strategies. Every effort has been made to ensure accuracy in these commentaries at the time of publication; however, accuracy cannot be guaranteed. Market conditions may change and AGF accepts no responsibility for individual investment decisions arising from the use of or reliance on the information contained herein. Any financial projections are based on the opinions of the author and should not be considered as a forecast. The forward looking statements and opinions may be affected by changing economic circumstances and are subject to a number of uncertainties that may cause actual results to differ materially from those contemplated in the forward looking statements. The information contained in this commentary is designed to provide you with general information related to the political and economic environment in the United States. It is not intended to be comprehensive investment advice applicable to the circumstances of the individual.

AGF Investments is a group of wholly owned subsidiaries of AGF Management Limited, a Canadian reporting issuer. The subsidiaries included in AGF Investments are AGF Investments Inc. (AGFI), AGF Investments America Inc. (AGFA), AGF Investments LLC (AGFUS) and AGF International Advisors Company Limited (AGFIA). AGFA and AGFUS are registered advisors in the U.S. AGFI is a registered as a portfolio manager across Canadian securities commissions. AGFIA is regulated by the Central Bank of Ireland and registered with the Australian Securities & Investments Commission. The subsidiaries that form AGF Investments manage a variety of mandates comprised of equity, fixed income and balanced assets.

About AGF Management Limited

Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. AGF brings a disciplined approach to delivering excellence in investment management through its fundamental, quantitative, alternative and high-net-worth businesses focused on providing an exceptional client experience. AGF’s suite of investment solutions extends globally to a wide range of clients, from financial advisors and individual investors to institutional investors including pension plans, corporate plans, sovereign wealth funds and endowments and foundations.

For further information, please visit AGF.com.

©2021 AGF Management Limited. All rights reserved.

This post was first published at the AGF Perspectives Blog.

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