Dole quits presidential race

Elizabeth Dole announced Wednesday that she is dropping her bid for the 2000 GOP Presidential nomination.

Dole said she cannot raise enough money to compete with fellow GOP contender George W. Bush, the Associated Press reported. Between July and September, Bush raised more than $20 million for his campaign while Dole pulled in about $1 million.

"The bottom line is money, it would be futile to continue," she said.

According to the AP, Dole does not intend to endorse any other GOP candidate.

Dole was Secretary of Transportation in the Reagan administration and Secretary of Labor under President Bush. She served as president of the American Red Cross from 1991 until she launched her presidential campaign earlier this year.