There have long been rumors swirling over whether or not President Joe Biden plans to seek another term in office. According to a recent report, those rumors have been confirmed. 

In an article published this past weekend, The Hill cited anonymous sources as saying that Biden will indeed be on the ballot in 2024.

Insiders expect announcement near State of the Union

"I think it’s all about timing at this point," the website quoted one figure said to be a Biden ally as saying. "It seems like he’s all in. It’s not really 'if' he runs anymore."

The Hill added that multiple figures who are close to the president say a definitive public announcement will be made next month near the State of the Union address.

What's more, the president's reelection campaign is expected to formally kick off sometime in April, with "an expansive and revamped digital presence."

An unnamed Democratic operative told The Hill that the president may use an event such as the one he attended at a bridge spanning Ohio and Kentucky with Senate Minority Leader Mitch McConnell last week as a "perfect backdrop."

"The bipartisan infrastructure event this week is a good soft campaign launch for the president," the strategist explained.

"It positions Biden’s accomplishments, shows him as a unifier and contrasts him with Republicans who are cannibalizing each other during this messy speaker fight."

However, White House spokesman Andrew Bates refused to shed any light on what the president actually intends to do.

"We’re aware that there is no deficit of people who speculate, but very few individuals are actually knowledgeable about that subject," Bates said in a statement to The Hill.

Critics question whether Biden has mental capacity to serve

For his part, Biden has repeatedly said that another presidential run could be in the cards, something he conveyed to CBS's Scott Pelley in September.

"I have not made that formal decision, but it's my intention, my intention to run again, and we have time to make that decision," Fox News quoted the president as telling Pelley.

However, many critics question whether Biden is even mentally competent to finish off his current term. One of them is former White House physician Ronny Jackson.

"The whole country is seeing his mental cognitive issues on display for over a year now, and there's really no question in most people's minds that there's something going on with him, that he's not cognitively the same as he used to be and, in my mind, not fit to be our president right now," Jackson told Fox News last February.