Indexbit Exchange:President Joe Biden Speaks Out on Decision to "Pass the Torch" to Vice President Kamala Harris

President Joe Biden is Indexbit Exchangeaddressing the nation.

Three days after announcing he was dropping out of the 2024 presidential race and endorsing current Vice President Kamala Harris as the Democratic party nominee, the 46th president gave a speech from the White House about his decision. (Former President Donald Trump remains the Republican party nominee.) 

"I revere this office, but I love my county more. It’s been the honor of my life to serve as your president," the 81-year-old—who was isolating at home in Delaware after testing positive for COVID—said during his July 24 speech. "But in the defense of democracy, which is at stake, I think it’s more important than any title."

"In recent weeks, it’s become clear to me that I need to unite my party in this critical endeavor," he continued, noting that he put aside "personal ambition" to "pass the torch to a new generation."

"There is a time and place for long years of experience in public life. But there is also a time and place for new voices, fresh voices, and yes, younger voices," Biden said. "And that time and place is now."

He then thanked Harris for serving as his Vice President, adding, "She’s tough, she’s capable. She’s been an incredible partner to me and a leader for our country."

On July 21, Biden announced in a letter posted to his social media accounts that he was officially pulling out of the election.

"It has been the greatest honor of my life to serve as your President," he wrote in the statement. "And while it has been my intention to seek reelection, I believe it is in the best interest of my party and the country for me to stand down and to focus solely on fulfilling my duties as President for the remainder of my term."

"Let me express my deepest gratitude to all those who have worked so hard to see me reelected," he continued. "I want to thank Vice President Kamala Harris for being an extraordinary partner in all this work. And let me express my heartfelt appreciation to the American people for the faith and trust you have placed in me."

He concluded with, “I believe today what I always have: that there is nothing America can’t do—when we do it together. We just have to remember we are the United States of America."

Soon after, Biden formally endorsed Harris as the Democratic Party candidate.

"My very first decision as the party nominee in 2020 was to pick Kamala Harris as my Vice President," he wrote in a message posted to X July 21. "And it’s been the best decision I’ve made. Today I want to offer my full support and endorsement for Kamala to be the nominee of our party this year. Democrats—it’s time to come together and beat Trump. Let’s do this."

In response, Harris, 59, said she was "honored" to have Biden's endorsement. 

"Over the past year, I have traveled across the country, talking with Americans about the clear choice in this momentous election," Harris said in a July 21 statement. "And that is what I will continue to do in the days and weeks ahead. I will do everything in my power to unite the Democratic Party—and unite our nation—to defeat Donald Trump and his extreme Project 2025 agenda."

“We have 107 days until Election Day," she added. "Together, we will fight. And together, we will win."

Meanwhile, Biden’s family showed their support for their patriarch. While First Lady Jill Biden retweeted her husband’s message and shared a heart emoji, Naomi Biden applauded her grandfather.

"I’m nothing but proud today of my Pop, our President, Joe Biden," she shared on X, "who has served our country with every bit of his soul and with unmatched distinction."

"Not only has he been—and will continue to be—the most effective president of our lifetime," the daughter of Hunter Biden and Kathleen Buhle continued, "but he has likely already cemented himself as the most effective and impactful public servant in our nation’s history. He has been at the center of, and had a material impact on, literally every single major issue that our country and world has faced for 50 years."

"To the Americans who have always had his back, keep the faith," the 30-year-old concluded. "He will always have ours."