President Joe Biden is facing significant challenges within his own party as he heads into the 2024 election year. According to a new USA TODAY/Suffolk University Poll, Biden has lost support among voters of color and of younger voters.

The poll reveals that former President Donald Trump is now leading among Hispanic voters and young people, while one in five Black voters say they will support a third-party candidate in November.

Biden's lack of support from key portions of the Democratic base is a cause for concern for the current administration.

When only two candidates are specified, Trump narrowly leads Biden 39%-37%, with 17% of voters saying they will support a third-party candidate. And when seven candidates are listed, Trump's lead increases to 3 percentage points, with independent Robert F. Kennedy Jr. at the top of the third-party candidates with 10% support.

These findings highlight the rough road ahead for Biden as he attempts to secure a second term.

The most alarming statistic for the president is his decline among Black voters, with only 63% saying they will support him, a significant drop from the 87% he received in 2020. Biden also faces a 5% deficit among Hispanic voters, compared to his 2 to 1 lead over Trump in the previous election.

Even among young voters, who were a strong force for Biden in 2020 due to their differing views on issues like abortion and climate change, Trump now leads 37%-33%. This significant shift in support among young voters is a major blow to Biden's chances of securing a second term.

The poll also shows that much of the lost support for Biden has shifted to third-party candidates, rather than Trump himself. This gives the president some hope, as 20% of Hispanic and Black voters, and 21% of young voters, say they will back someone other than the two main contenders.

Speaking of Trump, the former president is showing an increasingly strong grip on the Republican nomination as well as a narrow lead over Biden in the general election, with 62% of likely Republican primary voters backing him. Former U.N. ambassador Nikki Haley has edged into a distant second place at 13% support, followed by Florida Gov. Ron DeSantis at 10%.

Despite these promising numbers for the GOP and Trump, there is still the potential for surprises in the upcoming Iowa caucuses on January 15th and the New Hampshire primary on January 23rd. Surprisingly, Trump is leading in New Hampshire with an average of 44.1% support, followed by Haley with 25.7% and Christie with 11.1%.

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In addition to facing a strong opponent in Trump, Biden also needs to focus on increasing not only his support, but also voter enthusiasm. Only 18% of his supporters describe themselves as a "10" on a thermometer measuring enthusiasm, compared to 44% of Trump's supporters.

The clock is ticking for Biden, as he faces challenges not only within his own party, but also from a strong Republican opponent. The key for him will be to not only secure the support of the Democratic base, but to also increase voter enthusiasm in order to secure his second term in the White House.