In the wake of President Joe Biden's lackluster debate performance against former President Donald Trump, anxiety has spread among Democrats, leading to discussions about the possibility of replacing Biden as the party's nominee. Liberal commentators and top Democratic donors have expressed their concerns, while Biden's aides and leading Democrats maintain that he is determined to run for a second White House term against Trump.

Biden's raspy, unfocused, and often inarticulate debate performance has sparked panic among Democrats, with some commentators and fundraisers openly calling for a new nominee to run against Trump. However, replacing Biden just a few months before the November 5 election poses significant political risks and would be a challenging endeavor.

Currently, the only plausible way for Biden to be replaced is if he willingly withdraws from the campaign. Biden's aides and top Democratic officials confirm that the 81-year-old incumbent has no plans to do so. If Biden were to drop out, Democrats have yet to identify a clear alternative candidate to replace him.

Nevertheless, the post-debate panic has prompted some Democratic fundraisers to explore options for convincing congressional leaders, particularly Senate Majority Leader Chuck Schumer, to urge Biden to announce his withdrawal from the race. Schumer has privately expressed concerns about Biden's standings in presidential election polls. However, he has not publicly commented on the matter.

Some wealthy donors, who had previously trusted Biden's team, now feel deceived and are questioning whether he can effectively take on Trump. Several of these donors plan to attend a high-dollar fundraiser in the Hamptons to personally assess Biden's viability as a candidate.

The prospect of replacing Biden as the nominee is challenging, given the advanced stage of the campaign. Meena Bose, director of the Peter S. Kalikow Center for the Study of the American Presidency at Hofstra University, calls it a "disastrous" scenario. Bose suggests that the only feasible way would be for Biden to throw his full support behind Vice President Kamala Harris as the new nominee. However, this option still presents uncertainties, as there is no guarantee that Biden's delegates would shift their support to Harris.

The Democratic National Convention in August would be the only opportunity to potentially replace Biden as the nominee if he refuses to drop out before then. Technically, his delegates could abandon him en masse during the convention, opening the path for another candidate to be nominated. Some Democrats have considered California Gov. Gavin Newsom, Ohio Sen. Sherrod Brown, and Illinois Gov. J.B. Pritzker as potential contenders, but the likelihood of blocking Biden from the nomination remains highly improbable.

While Democratic National Committee (DNC) rules allow for the selection of another nominee in the event of death, resignation, or disability, Biden's campaign has not indicated any such circumstances. At a rally in North Carolina, Biden acknowledged his subpar debate performance but defended his ability to win and effectively serve as president. He expressed his conviction, stating that he would not be running again if he didn't strongly believe in his capability to handle the job, emphasizing the high stakes involved.

As the debate fallout continues, Democrats find themselves in a challenging situation with limited options for change. The focus now shifts to Biden's next moves and how the party will maneuver ahead of the November election.