At a news conference in San Jose Thursday afternoon, former South Bay congressman and state finance director Tom Campbell reiterated that he is pulling out of the California governor's race and will instead make a run for the U.S. Senate.
Campbell, who will be vying for the seat of Sen. Barbara Boxer, said as senator, he will focus on curbing the growth of government spending.
"I believe I can do the most good in that role," he said.
Earlier Thursday morning, Campbell officially broke the announcement by way of an e-mail and video he sent to his supporters.
"Truly, in my lifetime, I have never seen the growth of federal government spending more out of control," Campbell stated in the e-mail. "The consequences will be both inflation in the very near future, affecting us all, but retirees especially, and a tremendous burden on the next generation that will have to pay back what has been borrowed."
Campbell holds a doctorate in economics and was elected five times to the U.S. House of Representatives, representing districts in Silicon Valley. He was also elected California state senator and served as director of finance.
"Everything has led me to this moment," he said.
Campbell's entry into the Senate race will pit him against businesswoman Carly Fiorina and Assemblyman Chuck DeVore.
He described his stance as moderate on social issues and conservative on fiscal spending.
Campbell revealed a long list of endorsers Thursday, among them former U.S. Secretary of State George Shultz, who appeared alongside Campbell and vouched for him personally.
"This is a man who's had the experience, he's been in the arena and he knows the state and the issues," Shultz said. "Incidentally, when he was running it, we had a balanced budget."