A lack of enthusiasm among small donors to invest in the re-election of President Joe Biden is emerging as a red flag for his campaign, according to one observer.

According to Politico, small-donor contributions to ActBlue, the largest Democratic online fundraising platform, are at $312 million for federal contests, about $30 million less than in the 2020 election cycle.

ActBlue also experienced a 32% decline in minor donors during the second quarter of the year.

“Because small donors are a proxy for enthusiasm, if people aren’t concerned about the drop-off in contributions, then they just aren’t paying attention or whistling past the graveyard,” said Ari Rabin-Havt, the deputy campaign manager for the 2020 presidential campaign of Sen. Bernie Sanders of Vermont.

“The impact is from top to bottom. You can see it in the ActBlue number, you can see it from the DNC down through every group. There has to be a quick examination among Democrats about what is creating this enthusiasm gap,” Rabin-Havt said.

Small contributions to the Democratic Congressional Campaign Committee and Democratic Senatorial Campaign Committee have decreased by approximately one-third. Politico reported that some progressive organizations have laid off staff due to a dearth of funds.

In a New York Times/Siena College survey, enthusiasm was scarce.

According to the poll, 20% of Democrats would be ebullient about Biden as the party’s nominee, while 51% would be satisfied but not effusive.

Approximately 30% of those who intend to vote for Biden had hoped for another Democrat to be the party’s nominee.

The New York Times/Siena College survey of 1,329 registered voters in the United States was conducted from July 23 to July 27. The margin of error is 3.67 percentage points plus or minus.

The New York Times discovered through interviews that some electors were less than enthusiastic.

“It’s basically like I don’t have another choice, because I don’t feel comfortable not voting,” Mamiya Langham, 38, a government analyst from Atlanta, said.

She stated that she had concerns about Biden’s tax policy.

“We’re kind of smushed in the middle, and we’re taking on the brunt of the taxes for everybody,” she said.

Others worried about Biden’s apparent condition.

“Some of his glitches on TV, what they catch on TV, just has me worried about the president,” Daryl Coleman, 52, of Cleveland, Alabama, said.

Reuters reported that 42 percent of Biden’s 2020 electors who participated in a recent Reuters/Ipsos survey believed that the economy was “worse” now than in 2020.

The credibility interval for the online national survey of 2,009 U.S. adults was described by Reuters as “about three percentage points.”