BY DAVID HYLTON
Former Democratic presidential candidate Jim Webb told the World Affairs Council in Dallas on Wednesday that he will not run for president as an independent.
"I have reluctantly concluded that in my case…we are not able to put together the kind of funding that would help us to get on the ballots in all the states," Webb said, according to the Dallas Morning News.
Webb, a former Virginia senator and former secretary of the Navy under President Ronald Reagan, dropped out of the Democratic field in October.
Politico says that Webb raised $68,000 in the final quarter of 2015 with $317,000 cash on hand.
"A third-party run for president was theoretically possible, but the money wasn’t there for a successful campaign," Webb posted on his Jim Webb 2016 Facebook page.