Democrats are losing voters from both the right and left flank as progressives walk away from the party for selling out on economic issues while many moderates believe the party has moved too far to the left on social issues.

Many outspoken centrist entertainment figures and business titans such as Elon Musk and Joe Rogan, who used to be card-carrying Democrats, have abandoned the party.

Musk famously posted a Tweet where he showed that he identifies with the center-right after the Democratic party moved to the far-left on social issues.

Another person, Democratic Presidential candidate Andrew Yang, has definitively broke with the Democratic Party as he became one of the founders of a new third party, “Forward”.

The party was founded by both former Republican and Democratic officials.

Reuters Reports–

Dozens of former Republican and Democratic officials announced on Wednesday a new national political third party to appeal to millions of voters they say are dismayed with what they see as America’s dysfunctional two-party system.

The new party, called Forward and whose creation was first reported by Reuters, will initially be co-chaired by former Democratic presidential candidate Andrew Yang and Christine Todd Whitman, the former Republican governor of New Jersey. They hope the party will become a viable alternative to the Republican and Democratic parties that dominate U.S. politics, founding members told Reuters.

Analysts say the Green Party’s Ralph Nader siphoned off enough votes from Democratic presidential candidate Al Gore in 2000 to help Republican George W. Bush win the White House.

Public reaction on Twitter was swift. Many Democrats on the social media platform expressed fear that the new party will siphon more votes away from Democrats, rather than Republicans, and end up helping Republicans in close races.