Biden on the verge of announcing 2024 re-election campaign: report

According to the Hill, one Biden ally told the outlet that, "I think it's all about timing at this point. It seems like he's all in. It's not really 'if' he runs anymore."

Biden insiders say the president plans to announce his re-election bid in the upcoming weeks, likely in February, with a proper formal announcement in the Spring. The more informal announcement is expected around the State of the Union.

Last year, First Lady Jill Biden said of her husband running again in 2024: "Look at all Joe has done. He has kept true to what he said he would do... I think he just needs to keep going."

Under Biden, the country has faced record-setting high inflation, an ongoing supply chain crisis, and a looming recession. His unceremonious 2021 military withdrawal from Afghanistan led to 13 American deaths and the Taliban taking over the country in weeks. Biden's border crisis has seen a record-high number of illegal immigrants pouring into the United States along with a historic increase in drug and human trafficking along the border. Under Biden, Russian President Vladimir Putin invaded Ukraine in February 2022. The Biden administration and Congress have spent over $60 billion funding the war in Ukraine, a student loan forgiveness plan that will cost $300 billion and $980 billion over the next 10 years, a $739 billion Inflation Reduction Act from August, along with the $1.9 trillion American Rescue Plan and the $1.2 trillion infrastructure bill spending plans from 2021.

The Hill reports that his decision comes after Biden's vacation with family in St. Croix, where they discussed Joe Biden's ambitions to do more for the country.

Biden is currently the oldest president the country has ever had, and would be 82 in 2024.

In November 2021, then-White House Press Secretary Jen Psaki confirmed to reporters during a briefing on board Air Force One while flying to Fort Bragg on Monday that President Joe Biden will be running for re-election in 2024.

In January, Biden's approval fell to 33 percent.