Biden in his White House speech says he is "passing the torch" to the younger generation

(Patria) - President Joe Biden said he is "passing the torch to a new generation" as he explained his abrupt exit from the 2024 presidential race to Americans for the first time on Wednesday evening, in an address from the Oval Office, Reuters reported.

"I respect this office," Biden said. "But I love my country more."

Biden (81) had faced weeks of pressure from Democrats to withdraw after a disastrous debate on June 27, at one point saying only "God Almighty" could convince him to leave the race.

"I have decided that the best path forward is to pass the torch to a new generation. That is the best way to unite our nation," Biden said.

The decision came after days of reflection and agony over internal polls that predicted he could lose to Republican Donald Trump in November and drag down other Democrats with him.

"The great thing about America is, kings and dictators don't rule here. The people rule. History is in your hands. Power is in your hands. The idea of America is in your hands," Biden said.

It was the first extended public statement since he yielded to pressure from fellow Democrats and announced via social media on Sunday that he had decided not to seek re-election on November 5.

He is the first sitting president not to seek re-election since 1968 when Lyndon Johnson, under criticism for his handling of the Vietnam War, abruptly withdrew from the campaign on March 31.

Biden joins James K. Polk, James Buchanan, Rutherford B. Hayes, Calvin Coolidge, and Harry Truman as presidents who decided not to run for a second term.

Biden faced calls to withdraw after his poor performance in the debate against Trump raised troubling questions about his mental acuity. But since withdrawing from the race, Democrats have rallied around him, paying tribute to his character and record as president. A crowd of staff entered the White House earlier in the evening to watch the speech together.

An official said a reception and "viewing" were being held across the State Floor of the White House where Biden was.

The White House has denied that Biden has any cognitive issues despite a recent increase in verbal gaffes.

Biden said he would focus on his job as president during his remaining six months in office. He is scheduled to meet with Israeli Prime Minister Benjamin Netanyahu on Thursday about efforts to negotiate a ceasefire in Gaza.

It was the fourth time Biden had used the formal setting of the Oval Office since taking office in 2021. His last Oval Office speech was on July 15, when he urged Americans to cool political rhetoric after an assassination attempt on Trump.

Biden's political career began when he was elected to the Senate in 1972 at age 29, becoming the sixth-youngest senator in the United States. His term in the White House will conclude on January 20, 2025, as the oldest U.S. president, by which time he will be 82.

"Defending democracy is more important than any title," Biden said.

"I draw strength and find joy in working for the American people. But this sacred task of perfecting our Union is not about me. It's about you. Your families. Your future. It's about 'We the People.'"