Tom Campbell Drops Governor’s Race; Challenging Boxer

SACRAMENTO -Former Republican congressman and state senator Tom Campbell pulled out of the governor’s race today and announced he will instead run for the U.S. Senate seat held by Democrat Barbara Boxer.

“I initially made the decision to run for governor because I believe that my level of record of public service — especially on the state budget — and my willingness to present specific, pragmatic solutions to our most pressing problems would enable me to help charge a better course for our state,” Campbell said in an e-mail and video sent to his supporters.

“Today, I remain firmly committed on that path with an announcement that I’ll be running for the U.S. Senate instead.”

Campbell has been overshadowed in the gubernatorial race by well-heeled Republican contenders Meg Whitman and Steve Poizner.

Poizner issued a statement lauding Campbell for dropping out of the governor’s race.

“In this race, Tom Campbell was never afraid to answer the tough questions, debate the issues and offer specific ideas for pulling California out of economic crisis,” he said. “I may not have agreed with all of Tom’s proposals, but I admire his attention to policy and his willingness to present detailed specifics.”

Campbell represented portions of the Silicon Valley in Congress from 1989-93 and 1995-2001 and in the state Senate from 1993-1995. He was the director of the California Department of Finance from 2004-05.

The Chicago-born Campbell, who has a doctoral degree in economics from the University of Chicago and graduated from Harvard Law School, was also the dean of the Haas School of Business at UC Berkeley and a law professor at Stanford University.

“Every day brings more evidence of the need for fiscal restrain in Washington, and the huge danger to our country from printing money,” he said.

“Truly, in my lifetime, I have never seen the growth of federal government spending more out of control.

“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. The federal deficit has more than tripled in a single year. That’s suicidal for our country.”

California Republic Party Chairman Ron Nehring issued a statement saying Boxer appears to be vulnerable.

“Strong incumbents don’t draw many challengers,” he said. “Today, we have even more evidence that Barbara Boxer is not a strong incumbent going into this re-election battle.”

He noted that Boxer’s Senate seat is one of nine that is considered to be “in play.”

“Republicans have a solid field of candidates to choose from in the June primary,” he said. “Each of the candidates demonstrates the leadership and strength necessary to take full advantage of the national trend that has shifted decidedly away from Democrats.”

In running for the Senate, Campbell joins a Republican field that already includes former Hewlett-Packard CEO Carly Fiorina and Assemblyman Chuck DeVore, R-Irvine.

Campbell has made two previous Senate runs. He finished second in a three-way Republican primary in 1992. He won the Republican primary in 2000, but lost to Sen. Dianne Feinstein, D-Calif., in the general election.