Alternate headline: Bidenomics hits close to home for Democrats. 

I kid, I kid.

Dean Phillips' problems aren't linked to the economy. They're linked to political inertia in his own party. Fundraising for his primary challenge against Joe Biden has not kept up with expenses, and Phillips had to lay off "a large number" of staff from his presidential campaign. However, Phillips pledged to fight on rather than withdraw:

I love running for President, but today I had to make some tough decisions.

But with 75% of Americans saying Trump is too corrupt and Biden is too old, I’m not giving up!

If you’re ready for change, join me at https://t.co/L4Hf3zEZKv! pic.twitter.com/mQleNnh2vs

— Dean Phillips (@deanbphillips) February 16, 2024

Democratic Rep. Dean Phillips of Minnesota confirmed Friday he is laying off a large number of his campaign staff amid his 2024 presidential run.

Phillips took to social media Friday evening to post a video announcing his reason for the layoffs, but did not indicate he is dropping out of the race. 

"I found it almost impossible to raise enough to do this campaign the way I want," Phillips said. "And today, sadly, I had to announce layoffs to a lot of my staff members."  

I haven't seen polling on Trump's alleged corruption, but Phillips is wrong about the numbers on Biden's age. That's eighty-six percent of Americans. Among Democrats, it's 73%. 

You're welcome.

Phillips' campaign has always been quixotic, so the scaling down of his operations comes as no shock. In the first place, it's tough for a member of the House to generate much interest in a presidential bid unless they're a member of party leadership -- and even then, it's usually a waste of time. Second, primary challenges against incumbents are almost always futile. Parties have too much invested in incumbents to blithely toss them aside at any level, let alone in the White House. 

Phillips assumed this time might be different because of Biden's obvious cognitive decline. Phillips always carefully framed the issue around "age," but everyone knew exactly what he meant. (And I mean everyone.) The Robert Hur report has forced most people to acknowledge that the Emperor isn't wearing any cognitive clothes, but unfortunately for Phillips, Democrats are still afflicted with political inertia over it. 

That could be changing, however. The WaPo's Megan McArdle, a Biden supporter herself, said it's time to stage an intervention in a lengthy Twitter thread yesterday:

Which brings me to my third, and most important reason for talking about this: it might not be too late to replace him with a candidate who is more likely to beat Trump. But only if we talk about it now.

— Megan McArdle (@asymmetricinfo) February 16, 2024

But assume that folks like Obama, Klain, and Jill Biden agree to stage an intervention, and he agrees to hand over the keys to the nomination, Harris will be the presumptive successor, and bypassing her will be difficult even if you throw it to the floor at the convention.

— Megan McArdle (@asymmetricinfo) February 16, 2024

How likely is such an intervention? About as likely as Biden suddenly becoming the reigning Jeopardy! champion. But McArdle's not the only one discussing an intervention. Peggy Noonan also tried pushing Democrats yesterday into throwing off their inertia and find someone competent to run in the election instead:

The family won’t go for it. They aren’t the arbiters of American history; the White House isn’t their candy store.

He will never change his mind. Barack Obama dissuaded him from running for president in 2016. If Mr. Biden steps aside, sacrificing all vanity and need, he is a hero to his party forever. If he stays and loses, he’s Ruth Bader Biden. They’ll never forgive him. His legacy is the second Trump term.

Has anyone had The Talk with him, his family and staff? All the odds laid out, the arguments made, a plea spoken? Has anyone been frank, candid, tough?

If not, why not? Donors love to talk, so do senators and governors.

Democrats don't even need an intervention. All they need to do is change the rule at the convention that binds delegates on the first ballot. Then they don't have to worry about what the Biden family will agree to -- what is that, anyway? -- or whether the Obamas approve. If the delegates stick with Biden anyway, so be it. But after the Hur report, I suspect that most of them would see that as signing the party's death warrant and would start looking at younger governors and other potential replacements from the start.

Will that be enough to rescue Phillips' campaign? Probably not; as a prophet of Biden's senility, Phillips won't be much welcome in his home town, to paraphrase the scriptures. But at least he'd be vindicated, and that may be what Phillips seeks most.