Speculation that Vice President Joe Biden may enter into the 2016 presidential election continued to grow on Monday as the White House acknowledged that Biden is still mulling over the idea of placing his bid in the race.

Earlier this year, the vice president stated that he would make a decision about jumping in the race by the end of the summer.

"I would assume that that means he's got another month or so to think about this and announce a decision," said White House spokesman Josh Earnest, according to AFP.

If he did launch a presidential campaign, Earnest said there is the possibility that Obama would ultimately chose between his vice president and his former secretary of state. "I wouldn't rule out an endorsement," he said.

Speculation about Biden's plans were also fueled by reports over the weekend that he had a private meeting with Sen. Elizabeth Warren, D-Mass., a progressive figure in the Democratic Party.

Political pundits say that Biden would give Democratic presidential frontrunner Hillary Clinton stiff competition. However, it's unclear if he could actually win the White House being that he lost two presidential bids by large margins in the past.

A senior Democrat also revealed that Biden received President Barack Obama's "blessing" to make a 2016 bid for the Oval Office, reports CNN. The source added that Obama made it clear that he would not stand in his way or counsel him against a run.

However, the Vice President's office dismissed the speculation about Biden's political future.

"Sources continue to speculate about something they know nothing about," Biden spokeswoman Kendra Barkoff said. "This lunch was a private meeting between two people -- the President and the Vice President."

Speculation over whether Biden will enter the race or not comes as Clinton continues to struggle with the controversy over her private email account. Critics say that Clinton has yet to give a satisfactory explanation as to why she chose to use a private email server while she was working as secretary of state. This, in turn, this has raised concerns about her electability.