Tom Vilsack has issued the following statement which confirms that he will be withdrawing from the race for the Democratic nomination for President. Vilsack clearly explains that the reason is money - it would be increasingly difficult to compete with the likes of Hillary Clinton and Barack Obama.
"I am very fortunate -- blessed in love, family, friends, job, and by this campaign.
That is why this morning after discussing with my wife, Christie, and our sons, Jess and Doug, we have decided to end our campaign for the presidency.
The truth is we have everything to win the nomination and general election -- everything except money.
I want to thank everyone for all of their support, hard work, and kinds words over the past few months. Christie and I appreciate everything everyone has done for us.
My heart tells me to stay and continue fighting for the values we share and believe -- but I cannot continue campaigning with the expectation of raising hundreds of millions of dollars.
I am leaving one campaign but I am not saying goodbye. I will continue to fight for the outsiders and the underdogs who are the backbone of the Democratic Party and our country. And I will continue to fight for an end to the war, achieve energy security and get our country back on track. So stay tuned, the best is yet to come.
I am proud of the ideas that we have presented, and I am proud of the work that we have already done. And I urge you to continue fighting for the issues that we care so deeply about.
Our ideas will not be forgotten, and I will continue advocating for immediately bringing our troops home from Iraq. It’s the only action we can take that will truly help our country.
Again, thank you for everything and stay tuned. Our fight for a better America is far from over."