In the wake of a lackluster debate performance, President Joe Biden is reportedly contemplating the future of his candidacy in the 2024 presidential race.

What Happened: Biden has expressed concerns about his ability to continue in the race, according to a report by The New York Times that cites an unnamed ally of the president. The president, who is still actively campaigning for re-election, is aware that his upcoming appearances, including an interview with ABC News and campaign stops in Pennsylvania and Wisconsin, are crucial.

He understands that if these events do not go well, it could significantly impact his candidacy, the Times reports.

Following a disappointing debate performance, concerns are mounting about Biden's viability as a candidate and his capacity to serve another term as president. The White House denied these concerns to the Times, with a spokesperson labeling the assertion as "absolutely false."

A top adviser to Biden acknowledged the president is fully aware of the political challenge he faces in anonymous comments to the Times. The Biden campaign is closely monitoring polls, with a recent CBS News poll showing former President Donald Trump taking the lead nationally and in battleground states.

Despite these challenges, Biden is reportedly reaching out to Democratic elected officials and governors, as well as trusted allies, to discuss the possibility that his plans to shift the focus back to Trump may not be effective, according to the Times.

Why It Matters: The news of Biden's potential withdrawal comes at a time when some Democrats are urging him to step aside in favor of another potential candidate, including former First Lady Michelle Obama.

An Ipsos poll conducted on July 1-2, 2024 revealed that Obama is the only hypothetical Democratic candidate who could decisively defeat Trump, leading in favorability among registered voters by over 10 percentage points.

Should Biden decide to withdraw, it could potentially pave the way for a new Democratic candidate to emerge and challenge Trump in the upcoming election.