Biden told an ally he realizes it could be over for him

• Biden told a key ally that he might not be able to save his reelection bid, per the Times and CNN.

• The White House flatly denies the claims, with a spokesperson calling them "absolutely false."

• Democrats' support for Biden is waning, with some looking to Kamala Harris as a potential nominee.

President Joe Biden's cognitive abilities may be up for debate right now, but the president knows one thing: He may not be able to save his reelection bid if he does not change public perception soon. One of the president's crucial allies told both The New York Times and CNN that Biden said as much in a recent conversation.

The ally emphasized that Biden is still fully committed to his reelection bid but is keenly aware of how important his upcoming public appearances will be. He will sit for his first post-debate interview on Friday with ABC News and plans to visit key swing states over the weekend.

"He knows if he has two more events like that, we're in a different place," the ally, referring to the debate, told the Times.

The White House flatly denies the reports.

"This claim is absolutely false and if we had been given more than 7 minutes we could have communicated this before it was publicized," Andrew Bates, a White House spokesperson, said on X.

Biden has faced mounting pressure to step aside in recent days. On Tuesday, Rep. Lloyd Doggett of Texas was the first Democratic member of Congress to publicly call on him to drop out.

While no other Democrat has gone as far, the dam around the president appears to be cracking, with new attention directed toward Vice President Kamala Harris as a potential nominee. And it's not just political figures looking at Harris — gamblers in the betting markets are putting their money behind her as the likely nominee. As of late Wednesday morning, placing a bet on Harris' name cost 49 cents compared to Biden's 31 cents on Polymarket.

Biden plans to meet with key Democratic governors on Wednesday to try to shore up confidence among elected officials.

In an attempt to tamp down donor anxieties after Thursday's debate, the Biden camp is touting record campaign fundraising numbers. The president has acknowledged his own poor performance, blaming it in part on a hectic travel schedule and residual jet lag.

For all of the explanations, though, new polls indicate even rockier seas ahead for the president: Post-debate numbers show Trump inching ahead, with a 49% to 43% lead over the president.

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