Mike Pence Rules Out 2012 Presidential Bid

Congressman Mike Pence, R-Ind., will not be pursuing the nation's highest office in 2012 as some have speculated. Instead, the conservative Republican is soon expected to publicly declare his intentions to explore a campaign to be Indiana's next governor.

In a letter to constituents Thursday, Pence and his wife Karen wrote, “In the choice between seeking national office and serving Indiana in some capacity, we choose Indiana.”

"He is a realist and kept coming back to questions about the fund-raising," an anonymous source close to the congressman told CNN Thursday. Additionally, another source said that advisers reminded Pence of the difficulty of mounting a successful presidential campaign from the House of Representatives. At age 51, they said, the Indiana Republican may have a better platform to explore a presidential run in the future if he was first elected governor, CNN reports.

Pence is wildly popular in his own congressional district, having secured re-election last November by more than a two-to-one margin of defeat over his Democratic challenger.

Indiana's current governor, Republican Mitch Daniels, will be term-limited out of office in 2012 and many have also speculated that he may make a run for the GOP presidential nomination. Meanwhile, Daniels' No. 2, Republican Lt. Gov. Becky Skillman announced last month that she would not run for governor, further opening the door for a potential Pence run.