Biden fundraiser warns of 'catastrophic mistake,' says big-money donations have 'suddenly disappeared'

President Biden's campaign is struggling to continue fundraising as Democrats defect in droves and call on the president to drop out of the race.

"Fundraising has -- big money fundraising has slowed. People -- major donors who have pledged massive amounts of checks, and I’m talking six, seven -- seven-figure checks have suddenly disappeared, fallen off the face of the Earth, rescinded their pledges," Li said. Anders Hagstrom is a reporter with Fox News Digital covering national politics and major breaking news events. Send tips to Anders.Hagstrom@Fox.com, or on Twitter: @Hagstrom_Anders.

"It's just hard because a lot of these people are successful business people and they see the election as a business proposition. And they would only bet on a campaign if it's a winning prospect. But it's just -- I wish I had better news, but I’m also not here to give you talking points. This is just the truth," she added.