Kerrey said Wednesday he will not run for the Senate.
WASHINGTON (CNN) - Former Sen. Bob Kerrey announced Wednesday he will not run for the Nebraska Senate seat being vacated by Sen. Chuck Hagel, ending weeks of speculation he might seek a return to Capitol Hill.
"For my family and me now is not the time for me to re-enter politics as a candidate," Kerrey, a former Democratic senator from Nebraska and now the president of New School University, said in a statement. "The New School is an exciting and talented community of men and women. I am very fortunate to have the opportunity to lead them."
Hagel, a two-term Republican, announced last month he would not run for re-election, nor seek the presidency in 2008. Former Agriculture Secretary Mike Johanns quickly threw his hat into the ring on the Republican side and Democrats hoped Kerrey would follow suit, setting up a closely fought race in what is a solid Republican state.
"All of us need to resist the temptation of surrendering our interest in the outcome of elections or the work of our Congress. Too much is at stake," Kerrey said in his statement. "For my part I will continue to engage in the public issues of the day and to serve in ways that contribute to the solution of public problems."
Kerrey served as a senator from Nebraska from 1989-2001. He unsuccessfully ran for the Democratic presidential nomination in 1992.
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