Biden said he dropped out of presidential race to unite country, pass 'torch to a new generation'

President Biden explained in an address to the nation Wednesday that his decision to not seek reelection was to unite the country and "pass the torch to a new generation."

In a speech from the Oval Office on Wednesday evening, the Democratic president said he needed to "unite my party in this critical endeavor."

He added that "nothing can come in the way of saving our democracy, that includes personal ambition. If I've decided the best way forward is to pass the torch to a new generation, that's the best way to unite our nation.

"You know, there is a time and a place for long years of experience in public life. It's also a time and place for new voices, fresh voices, yes, younger voices. And that time and place is now."

The president noted that he has served "this nation for over 50 years."

Biden dropped out of the presidential race on Sunday, after he was diagnosed with COVID-19 and had been facing calls to drop out from members of his own party following his debate against former President Donald Trump last month. The president endorsed Vice President Kamala Harris for the Democratic nomination.

During his address, Biden praised Harris on her job as vice president, adding that it is up to the American public to elect her president.

"I'd like to thank our great vice president, Kamala Harris," he said. "She's experienced. She's tough, she's capable. She's been an incredible partner to me and a leader for our country. Now the choice is up to you, the American people."

Biden also explained that he needed to drop out of the presidential race for the sake of democracy.

"I revere this office, but I love my country more," Biden said. "It's been the honor of my life to serve as your president, but in the defense of democracy, which is at stake, I think it's more important than any title."

He added that he believes that "America is at an inflection point, one of those rare ones in history, when the decisions we make now determine our fate of our nation and the world for decades to come, America is going to have to choose between moving forward or backward, between hope and hate, between unity and vision. We have to decide. Do we still believe in honesty, decency, respect, freedom, justice and democracy?"

Biden has repeatedly called Trump a "threat to democracy." Following the assassination attempt on Trump, Biden defended his comments that Trump was a "threat to democracy," but said he was not "engaged" in incendiary rhetoric. 

“How do you talk about the threat to democracy – which is real – when a president says things like he says? Do you just not say anything – because it may incite somebody?” Biden said last week. “I am not engaged in that rhetoric. Now my opponent is engaged in that rhetoric."

Biden also explained Wednesday what he will focus on during the remainder of his term.

"Over the next six months, I'll be focused on doing my job as president," he said. "That means I'll continue to lower costs for hardworking families, grow our economy. I'll keep defending our personal freedoms, on our civil rights, from the right to vote to the right to choose. I'll keep calling out hate and extremism. Make it clear there is no place, no place in America for political violence or any violence, ever period.

"I'm going to keep, keep speaking out to protect our kids from gun violence. Our planet from climate crisis is the existential threat. I will keep fighting my for my cancer moonshot, so we can end cancer as we know it, because we can do it. I'm going to call for Supreme Court reform, because this is critical to our democracy."

He later added, "I'm the first president in this century to report to the American people that the United States is not a war anywhere in the world. We'll keep rallying a coalition of proud nations to stop [Russian President Vladimir] Putin from taking over Ukraine, doing more damage. We'll keep NATO stronger, and I'll make it more powerful and more united than any time in all of our history. I'll keep doing the same for allies in the Pacific."

Biden touted his accomplishments during his term, claiming, "Today, we have the strongest economy in the world, creating 16 million new jobs at record. Wages are up. Inflation continues to come down. The racial wealth gap is the lowest in 20 years. We're rebuilding our entire nation -- urban, suburban, rural, tribal communities. Manufacturing has come back to America. We're leading the world again in chips and science and innovation. We finally beat Big Pharma after all these years to lower the cost of prescription drugs for seniors."

He also said, "Today, violent, violent crime rate is at a 50-year low. We're also securing our border. Border crossings are lower today than when the previous administration left office."