Tim Pawlenty Ending Presidential Bid

There are reports this morning that former Minnesota Gov. Tim Pawlenty is dropping out of the 2012 presidential race. Pawlenty has been slipping in the polls recently and finished third in Saturday's Iowa Straw Poll.

After his third place finish in Iowa, Pawlenty seemed upbeat about his campaign and gave no indication that he would end his presidential bid.

"I'm encouraged by our progress, and I'm so thankful for the thousands of Iowans who showed their support for my candidacy by voting for me in Ames.

"We are now moving onto the next phase of our campaign. Over the coming weeks we will be visiting New Hampshire, South Carolina and Florida while continuing to grow our already strong ground game in Iowa," Pawlenty said.

Pawlenty was singing a different tune on Sunday morning as he reportedly told staff members during a conference call, "we needed a boost from Ames that didn't happen."

The former Minnesota Governor also told ABC's "This Week" show, "the pathway forward for me doesn't really exist and so we're going to end the campaign."

There will be more from Pundit Press as this story develops throughout the day.

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