Good Tuesday morning. I'm Jake Sherman and welcome to your Politico Playbook audio briefing.

Stay tuned after the show for a message from the American Beverage Association.

And I'm Anna Palmer. Here's the big question about Joe Biden. He'll be the 21st Democrat to enter the party's 2020 presidential field.

There are two theories out there about Biden's candidacy, and we wonder which one is correct.

One, Twitter isn't real life, and the former VP is more popular among the Democratic voting

rank and file than the Asela corridor conversation would suggest. Or two, Biden's station at the top

of the polls simply reflects his name ID, and once primary voters get a look

at the 76-year-old bipartisan touting, gaff-prone Washington insider, they'll dart in the other direction.

The weakness of the second argument is that name ID is a potent weapon, especially in a field filled

with unknowns. But as many Democrats say to us privately, in a party shifting

leftward and skewing younger, why would Democrats want an old guy who talks about how

great he is working with Republicans and has a record that is much more moderate than where

the base is right now? One question Biden will hear a lot. Why aren't more prominent Obama-Biden

alums endorsing his candidacy?

We're foreign policy honchos like Jake Sullivan and Susan Rice.

And most importantly, where is Barack Obama?

Another question. How will he compete for campaign cash?

Fundraising has always been a weakness of Biden's.

Now, not only will we have to convince Democratic

bundlers and big donors that he is the right person to beat Trump, he will also have to contend

with the influx of small-time donors who have flocked to Bernie Sanders and Elizabeth Warren.

The Philadelphia Inquirer is now reporting that Joe Biden's plans are in flux again and he

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