President Joe Biden made the right decision in withdrawing from this year’s presidential race. It was clearly not what he wanted to do. But he came to see that he had to do it—for his party, for the country, and for himself. In making what was likely the most painful political decision of his career—and one of the most momentous political decisions by any president since Lyndon Johnson decided not to run for reelection—Biden has put a fitting capstone on a lifetime of public service, including a successful presidency. He could and perhaps should have bowed out earlier, sparing Democrats and the country months of speculation and uncertainty. But by stepping down now, he still retains a measure of dignity and gives his party time to regroup before a critically important election.

Many of Biden’s supporters wanted the president to forge ahead, on the strength of what he has accomplished in the three-plus years of his presidency: unemployment at its lowest level in sixty years, rising wages, and the Dow Jones at record highs; successful management of the crisis in Ukraine; legislative achievements on infrastructure, climate, and pandemic recovery; a return to functioning governance after the Trump presidency. But Biden’s approval numbers have remained consistently low, and his polling against Donald Trump has worsened as mendacious GOP messaging about the economy and the “migrant crime crisis” has drowned out everything else. It’s a shame that neither Biden nor his campaign was better able to hammer the good news home.

The president’s obvious physical and cognitive decline had a lot to do with that. “Finish the job” was the slogan of his reelection campaign, but to anyone who watched his troubling public appearances, the words seemed willfully delusional. Interviews and press conferences after the disastrous debate at the end of June did nothing to reassure voters that Biden could get through the presidential workday, much less a grueling campaign or a second term.

Then came another bout with Covid, not long after his Republican opponent had dramatically escaped assassination. The image of Trump pumping his fist and shouting “Fight!” as blood trickled from his ear couldn’t help but underscore the perceived contrast between his vigor and Biden’s frailty. It’s true that Trump hasn’t received nearly as much scrutiny as Biden when it comes to his own diminished cognitive acuity and mental stability, but it was clear who voters perceived, however unfairly, to be the more vibrant candidate. And after all, Biden is currently the president; it’s natural that the burden of proof should fall more heavily on the person actually holding office. (Recall how often the media talked about the Twenty-fifth Amendment when Trump was in the White House.) In any case, Biden himself had plenty of opportunities to make the case against Trump and failed to do it adequately.

Attention now turns to Vice President Kamala Harris, likely to be the new nominee. Biden endorsed her, and many elected Democrats—including potential rivals—quickly followed suit. Multiple state Democratic parties have already pledged their delegates to her. Coalescing around a consensus candidate will comfort those who fear the potential chaos of an open convention. It will frustrate those who have concerns about rushing to anoint a new nominee before other options have been carefully considered—concerns that we share. History suggests that challenges lie ahead whoever the nominee is. In the twentieth century, two sitting Democratic presidents chose not to run for reelection: Harry Truman and Lyndon Johnson. And both times the eventual Democratic nominee—Adlai Stevenson, in 1952, and Hubert Humphrey, in 1968—lost the general election.

Democrats can only hope that the third time will be the charm. It was clear within minutes of Biden’s announcement that a jolt of excitement had been injected into the race. Voters who despaired of a rerun of the 2020 contest have reason to re-engage. Democratic panic about down-ballot races across the country seemed to ebb, and donations spiked. Now it’s the GOP that suddenly finds itself fielding the oldest presidential nominee in history—one who is also a convicted felon and adjudicated rapist. But there’s just a month to go before the Democratic convention in Chicago, and the Trump campaign, clearly disappointed not to be running against Biden, has already begun a line of baseless attacks on Harris. Whether Democrats can actually mount an effective campaign and defeat Trump in November remains to be seen. But with his wise if overdue decision to withdraw from the race, Biden has spared himself and his party an almost certain defeat.