President Joe Biden's approval rating has dropped to nearly its lowest point since taking office, a new poll from the Associated Press and the NORC Center for Public Affairs Research (AP-NORC) reveals. Currently sitting at 38%, his approval rating has taken a sharp dive from 45% in February, a troubling sign for the president amid the collapse of Silicon Valley Bank and Signature Bank and the looming threat of a recession. The survey, conducted from March 16-20, included 1,081 U.S. adults with a margin of error of 4%. According to the survey results, many Americans are questioning the effectiveness of Biden's policies and leadership. "If Biden is doing his job, why in a state like this can you see people really suffering?" Theresa Ojuro, a 29-year-old doctoral student in New York, told the AP. [tweet_embed]March 24, 2023[/tweet_embed] Biden has yet to make a formal announcement about running for reelection in 2024, although his office has always asserted that he will run in 2024. Biden was expected to announce his running after the State of The Union, but that did not materialize. Several leading members of the Democratic Party expressed concern about his age. Biden would be 82 by Inauguration day in 2025. Biden hasn’t had a positive approval rating since the summer of 2021. He saw the lowest approval percentage in July of 2022 when gas prices spiked along with inflation. The low approval rate is something that Biden shares with former President Donald Trump, who also maintained approval ratings below 40%.