Chuck Todd: 'Gay money has replaced Wall Street money' for Obama

NBC Chief White House Correspondent Chuck Todd on Monday predicted that President Barack Obama would announce his support for marriage equality before the November election because LGBT donors had become more important to his campaign than Wall Street donors.

The MSNBC host said he believes that it's no coincidence that just in the last few days, both Vice President Joe Biden and Secretary of Education Arne Duncan have expressed support for same sex marriage.

"They are so sensitive to Biden doing this because, number one, gay money in this election has replaced Wall Street money," Todd explained. "It has been the gay community that has put in money in a way to this President that is a very, very important part of the fundraising operation for President Obama's campaign."

"What I keep being told is [President Barack Obama is] not ever going to announce his change in his position at a press conference. He'll do it a more appropriate venue."

NBC host David Gregory agreed: "I think when you have them so close and, frankly, wanting to change their position. You know, you have the HUD secretary Shaun Donovan who said that he’s on record supporting same sex marriage. I think they are moving this closer and closer to the edge, and things like this are going to happen, that they are going to find these opportunities where they are much more forward-leaning and it’s very difficult to walk back. So I don’t know how they ultimately choreograph this. But the expectation is if they get into a second term, that’s when it will be done."

But Todd argued that support for marriage equality would come well before Obama's second term.

"I think this forces the conversation," the chief White House correspondent said. "I think they do it sooner. I think it will be before the convention."

Watch this video from MSNBC's Morning Joe, broadcast May 7, 2012.

(h/t: Mediaite)