U.S. President Joe Biden intends to run for re-election in the upcoming presidential elections in 2024. The White House confirmed Biden's intention of running in a statement released amid growing speculation about his political future.

The confirmation of Biden's bid in 2024 comes as his approval rating has dipped to its lowest point, mainly due to his handling of several issues such as China and Afghanistan. Sources with knowledge in the matter said Biden has also started to tell his allies about his plans to run for President again in 2024.

White House press secretary Jen Psaki also confirmed initial reports of Biden's intentions as they were boarding Air Force One to depart for a Thanksgiving event in Fort Bragg. Psaki confirmed that Biden does intend to run for re-election.

The drop in the approval rating of the 79-year-old President has raised concerns amongst Democrats, who had speculated that he might not seek another four-year term.

Biden underwent his first physical examination last week since he took office in January. Doctors found that he is suffering from some minor health issues, such as frequent bouts of cough and acid reflux. Despite their findings, doctors declared that Biden was still fit to serve as President.

Biden is currently the oldest presidential candidate to be elected as the President of the United States when he beat Donald Trump last year. In the upcoming 2024 elections, Biden will be 15 days short of being 82 years old. If he wins, he will be pushing the record of the oldest elected President of the U.S.

His victory in the coming elections is still uncertain, given the growing Republican shift. Republican victories in Virginia's governor race earlier this month, as well as a narrow Democratic victory in New Jersey, have rattled Democrats and their prospects for another presidential victory.

A poll conducted by the Washington Post and ABC found that just over 40% of Americans approved of Biden, continuing a gradual decline in the President's approval ratings amid inflation and supply chain concerns, as well as intra-party bickering over key components of the President's infrastructure and social plans.

The passing of the $1.2 trillion infrastructure proposal by Congress last week had seemingly boosted Biden's political chances. Another $1.75 trillion in expenditures on a social safety net package is still being considered, and if passed, it could further improve Biden's presidential prospects.

Should Biden decide not to run again in 2024, questions have been raised regarding Kamala Harris's viability as a presidential contender. She only had a 28% percent job approval rating in a recent USA Today and Suffolk University survey.