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President Biden declares his candidacy for the 2024 presidential election.

President Joe Biden has formally announced his candidacy for the 2024 presidential election in a video released on April 25, exactly four years after he began his 2020 campaign, following several months of hints and indications that he intended to seek a second term.

“The question we are facing is, whether in the years ahead, we have more freedom or less freedom. More rights or fewer.” “This is not a time to be complacent … That’s why I’m running for reelection,” he said. “We believe that everyone is equal that everyone should be given a fair shot to succeed in this country.”

During his video presentation, which included footage from the events that occurred on January 6th, 2021, President Biden directed his criticism towards Republicans, accusing them of endangering fundamental liberties. He invoked the overarching message of his 2020 campaign by highlighting the threat posed by MAGA extremists across the nation.

President Biden said: “When I ran for president four years ago, I said we were in a battle for the soul of America. And we still are. “Every generation of Americans have faced a moment when they have to defend democracy.”

Biden is currently encountering challenges that were absent during his prior campaign as a former vice president contesting against the incumbent President Donald Trump four years ago. Late in 2021, there have been concerns among many Americans about Biden's management of the nation's economy due to persistently high inflation and ongoing recession fears.

An ongoing investigation is examining the way in which Biden managed classified documents during his tenure as vice president. These documents were found at his residence in Wilmington, Delaware earlier this year, after similar materials were discovered at the Penn-Biden Center in Washington in November 2022.

Biden is confronting a series of challenges including the crisis at the U.S.–Mexico border, the Russia–Ukraine war, and communist China's rising influence with the potential for invading Taiwan. At present, one of his most pressing matters is the debt ceiling stalemate with the Republican-controlled House of Representatives. On April 19, House Speaker Kevin McCarthy (R-Calif.) put forth legislation to boost the country's debt ceiling by $1.5 trillion or until March 31, 2024, whichever arrives first, on the condition of reverting discretionary spending to 2022 levels, along with other cuts.

House Republicans have been denied negotiations by Biden over the debt ceiling. The topic of government spending is expected to be a significant focus during both parties' primaries and the general election. Inflation, which reached its highest point post-pandemic in June 2022, has declined to 5%, despite this, some economists believe that the Federal Reserve's interest rate increases to combat inflation have amplified the possibility of a recession. Since taking office, Biden has authorized trillions of dollars in spending, including bills such as the $1.9 trillion American Rescue Plan, the $1.2 trillion Infrastructure Investment and Jobs Act, the $745 billion Inflation Reduction Act, and a $1.7 trillion government spending bill that he signed while in St. Croix in December 2022, which he boasts about.

The GOP has attributed the surge in consumer prices to this expenditure, and has asserted, since the 117th Congressional session, that reducing spending would be a paramount objective for the party in the event of a House majority.

On April 24, the Institute of Politics at Harvard Kennedy School disclosed the results of a Youth poll, revealing a decline in Biden's approval rating among the 18-29 age group from 41 percent to 36 percent since the previous spring. Another Harvard-Harris poll conducted on April 20 displayed that in a head-to-head contest between Biden and Trump, registered voters would choose the former president by a 45 percent to 40 percent margin. The findings of the survey further highlighted that 67 percent of voters perceive Biden as "too old" to hold the presidential office, and 56 percent have reservations about his cognitive capacity to perform the duties.

Should Biden win the Democratic primary while Trump prevails in the Republican primary, an unprecedented moment in the history of American presidential elections would unfold. A rematch between the same two candidates, back-to-back, has never before been witnessed. According to a recent poll by NBC News on April 23, 70 percent of respondents voiced their objection to Biden seeking another term, while 60 percent of them expressed disinterest in a potential Trump run. The polls have consistently shown Trump holding a significant lead over the second most popular candidate, the Governor of Florida, Ron DeSantis. However, Governor DeSantis is yet to declare his intention to run for the presidency.

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