President Obama officially announced his bid for re-election with Vice President Joe Biden as his running mate. (AP)

President Obama formally announced his bid for re-election early Monday morning with a brief, two-minute video on his website.

Once again, Vice President Joe Biden will be his running mate. With 20 months to go and support from David Axelrod, Robert Gibbs, and Jim Messina – all familiar faces from his successful 2008 campaign – Obama is off to a head start against undefined opponents. Republicans are, as of now, without a clear 2012 nominee front-runner.

Obama is already making a statement by choosing to release a video and emails to announce his election bid, something presidents usually formally announce in a press conference at the White House.

According to the Associated Press, Obama may struggle to recapture the steam he once had as the candidate for change since he is the incumbent. He will have to deal with owning an economy that is adding jobs but still leaving millions of people stuck without work and still being a part of two wars with the addition of U.S. involvement in Libya.

He will have to rely not only on hope but also his record as well, including passing health care reform, repealing “Don’t Ask, Don’t Tell” and the failed promise of closing Guantanomo Bay, Cuba.

The Associated Press reported the President will need spark a fire under voters that got him elected in 2008, saying Obama must re-energize voters and regain many of the independent voters who voted Republican in last year’s midterm elections, which resulted in Democrats loosing the majority in congress.

More than one dozen republicans are said to be considering running against him but not one candidate has declared yet.

The Associated Press reported that the biggest issue voters are worried about is the economy. It is likely voters will either support the presidents progress on the economy or put their bet on another candidate.

President Obama’s announcement officially kicks off the 2012 election and everyone is waiting for the republicans to join the race.