Quick Hit:

President Biden's approval rating has plummeted to a new all-time low of 37.4%, according to FiveThirtyEight's latest average, prompting pollster Nate Silver to suggest Biden should reconsider his bid for re-election in 2024.

Key Details:

• President Biden's job approval rating has fallen to a new low of 37.4%, according to FiveThirtyEight's latest average, sparking questions about his viability as a candidate for the 2024 presidential election.

• Biden's current polling numbers are significantly worse than those from the 2020 election, with recent surveys showing former President Donald Trump ahead in several key swing states.

• Nate Silver, founder of FiveThirtyEight, argued that continuing to run with such low approval ratings might be a bigger risk than dropping out, although he acknowledged uncertainty about reaching that threshold.

Diving Deeper:

"Biden just hit a new all-time low in approval," Silver noted in a post on X, referencing FiveThirtyEight's latest average of the president's job approval numbers. This stark decline has led to growing discussions about whether Biden should reconsider his bid for a second term. Silver suggested that while dropping out of the race would be a significant risk, continuing to run with such low approval ratings might pose an even greater threat. "Are we there yet? I don't know. But it's more than fair to ask," he added.

Silver has long been vocal about his concerns regarding Biden's ability to secure a victory against former President Donald Trump in the upcoming election. In February, he suggested that there might be other Democrats better equipped to take on the challenge. Last month, he doubled-down, arguing that the Democratic Party would have been better served if Biden had decided not to seek a second term, allowing for a more competitive primary process.

"What's clearer [in my opinion] is that Democrats would have been better served if Biden had decided a year ago not to seek a second term, which would have allowed them to have some semblance of a primary process and give voters a say among the many popular Democrats across the country," Silver stated.

Silver also pointed out that Biden's current polling is significantly worse than it was in 2020, when he held leads in key swing states such as Arizona, Florida, Georgia, Michigan, Nevada, North Carolina, Pennsylvania, and Wisconsin. Recent surveys indicate that Trump is now ahead of Biden in all these states. Silver attributed part of Biden's declining support to his age, describing it as an "extremely understandable concern" for voters.