By Joe Biden has announced that he will not seek re-election.
The president used Twitter to post a letter announcing his decision.
The president had been facing massive pressure from his party to renounce his plans for reelection after polling showed that he was being defeated by Donald Trump.
Liberal billionaires had been using their clout to force Democratic senators to renounce Joe Biden and demand he step aside.
While many expect Kamala Harris to be the nominee who replaces Biden, most Democrats are hoping that another person takes the top spot.
[Read More: Barack Obama Forcing Biden Out Causes Anger]
