Quoting “several Democratic sources,” the Huffington Post reports that billionaire George Soros may be encouraging his fellow progressives to funnel their money away from President Barack Obama — that is, unless Obama can deliver for their cause.

During a small, “private” meeting of the Democracy Alliance Tuesday afternoon, Soros reportedly told the well-funded, progressive-minded crowd that the Obama administration might not be their best investment:

According to multiple sources with knowledge of his remarks, Soros told those in attendance that he is “used to fighting losing battles but doesn’t like to lose without fighting.”

“We have just lost this election, we need to draw a line,” he said, according to several Democratic sources. “And if this president can’t do what we need, it is time to start looking somewhere else.”

According to HuffPo, Soros’ political director later did not dispute the comments, but insisted that Soros remains a staunch supporter of Barack Obama.

“Mr. Soros fully supports the president as the leader of the Democratic Party,” said [Michael] Vachon. “He was not suggesting that we seek another candidate for 2012. His comments were made in a private, informal conversation that was about the need for progressives to be more forceful in promoting their agenda. He was stressing the importance of being heard by elected officials.”

In addition, the council of progressive big spenders also reportedly unloaded some tough questions on White House deputy chief of staff Jim Messina Wednesday, including why the Obama administration wasn’t “more combative with Republicans.”

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So who is the Democracy Alliance?  The group’s leadership consists of former and current officials of the SEIU,  National Education Association (NEA), Tides Foundation, the Democratic National Committee (DNC), NARAL Pro-Choice, EMILY’s List, Media Matters, the Clinton Administration, the NAACP and a number of private family foundations.

The group’s stated mission is “to build progressive infrastructure that could help counter the well-funded and sophisticated conservative apparatus in the areas of civic engagement, leadership, media, and ideas.”