President Biden Addresses Nation After Dropping Out, Time For New Generation

President Biden is addressing the nation after a rocky end to his campaign -- seeking to calm concerns over his ability to finish out his term ... while once again hyping up his VP and further explaining his decision to not seek reelection.

The veteran politician spoke to the American people from the Oval Office Wednesday night, sitting behind the resolute desk and explaining it was time to pass the torch to a new, younger generation.

Biden rattled off his list of accomplishments over the past 3.5 years and said he thought his performance warranted a shot at another 4 years ... but he says he realized it was time for new voices to lead the Democratic party.

POTUS also expanded on his previous endorsement of VP Kamala Harris ... drawing a clear line between her and Donald Trump as the November election nears.

Biden's speech comes 3 days after he formally ended his reelection bid after testing positive for COVID-19 while on the campaign trail in Las Vegas.

As we reported ... there had already been calls for Biden to bow out of the race before his positive COVID test -- especially after his underwhelming presidential debate and a less-than-inspiring interview with George Stephanopoulos.

Despite trying to convince people for weeks that he could beat Republican nominee and ex-Prez Donald Trump, Biden announced on Sunday he would not accept the Democratic nomination and formally endorsed his Veep as his replacement.

Harris happily accepted the endorsement and launched her new presidential campaign shortly after Biden's announcement ... and raised $81 million in the first 24 hours.

The shakeup threw the Republican party for a loop, however ... as several U.S. Representatives called for Biden to resign.