President Joe Biden gave a TV address on Wednesday evening to explain his historic decision to drop out of the 2024 presidential race. “I decided the best way forward is to pass the torch to a new generation,” President Biden said. Biden, 81, offered more insight into his decision to bow out of the race, following weeks of mounting pressure from Democratic lawmakers. “There is a time and place for fresh voices,” Biden said. After last month’s disastrous debate and a series of embarrassing public missteps, concerns over Biden’s fitness for reelection grew louder, prompting several members of Co…