President Joe Biden and his Republican rival Donald Trump are gearing up for what may be the most consequential presidential debate in decades. With both candidates facing tough challenges, the CNN debate on June 27 has the potential to reshape the presidential race.

The stakes couldn't be higher for 81-year-old Biden, who cannot afford an underwhelming performance against the ever-confident 78-year-old Trump. Biden's team expects aggressive attacks targeting his physical and mental strength, his record on the economy and immigration, and even his family.

Meanwhile, Trump will continue his campaign trail before retreating to his Florida estate for two days of private meetings as part of an informal prep process. Trump's allies urge him to stay focused on his governing plans, but they anticipate pointed questions about his unrelenting focus on election fraud, his role in the erosion of abortion rights, and his legal baggage.

This debate has several unprecedented elements. Never before in the modern era have two presumptive nominees met on the debate stage so early in the general election season. Never before have two White House contenders faced off at such advanced ages, leading to widespread questions about their readiness. Additionally, no general election debate participant has ever been burdened with a felony conviction like Trump, whose sentencing is scheduled just two weeks after the debate.

The ground rules for the debate are also unusual. The candidates agreed to meet at a CNN studio in Atlanta with no audience. Their microphones will be muted, except when it's their turn to speak. No props or prewritten notes will be allowed onstage, with the candidates only given a pen, a pad of paper, and a bottle of water. There will be no opening statements, and a coin flip determined the speaking order.

Biden arrived at Camp David on Thursday night, where he will spend private time with his senior campaign aides to prepare for the debate. While his aides have hesitated to reveal details about his preparations, they have signaled that Biden intends to be assertive and may not shy away from using the term "convicted felon" to describe his opponent.

Trump's team sees the debate as a crucial opportunity to highlight the contrast between Biden's leadership ability and governing record and Trump's own accomplishments. While downplaying his preparations, Trump is expected to rely on conversations about policy and strategy with his aides and political allies. He will also make public appearances in the coming days, including a rally in Philadelphia and a keynote address to Christian conservatives in Washington.

Both campaigns recognize the importance of reaching the audience of moderate, independent, swing voters in swing states, who will be influential in the election outcome. Biden's camp is prepared for Trump's focus on his son Hunter and is aware of the potential for Trump to present himself as a reasonable candidate.

As the debate approaches, the political world is buzzing with anticipation, viewing it as a pivotal moment that could significantly impact the trajectory of the election. All eyes will be on the two candidates as they face off in what promises to be a high-stakes battle of ideas, policies, and personal attacks.

The next debate is scheduled for September, meaning that any missteps or triumphs in the upcoming debate will have a lasting impact on the candidates' campaigns. With the clock ticking, both Biden and Trump are fully aware of the magnitude of the moment and the potential consequences that lie ahead.