Former Democratic U.S. Senator from Virginia and Secretary of the Navy Jim Webb announced on Thursday that he has decided against sparking an independent campaign for president of the United States.

Even though this is a conceivable thing, we are not able to put together the kind of funding that would allow us to get on the ballots during this period of time and to actually run a campaign that could seriously look at the presidency,” said Webb at Thursday’s announcement at the World Affairs Council in Dallas, Texas according to The Dallas Morning News.

Webb added, seemingly indicating that he is not yet planning to endorse another candidate, “We have not had a clear statement of national security policy since the end of the Cold War, and I see no one running for president today who has a firm understanding of the elements necessary to build a national strategy.

In July of 2015, Webb announced that he would seek the Democratic Party’s nomination for president. However, he failed to gain traction within the party and dropped out of its primary in October of 2015.

[RELATED: Jim Webb Accuses CNN of Rigging Democratic Debate to Benefit Sanders, Clinton]

As Webb withdrew from the primary, he complained that party officials and debate moderators were rigging the process for Hillary Clinton and Bernie Sanders and that his “views on many issues are not compatible with the power structure and nominating base of the Democratic Party.” Those complaints are what Webb said initially led him to consider an independent run.

Politico notes that Webb’s campaign only raised $68,000 in the last quarter of 2015.

The Truth in Media Project released a Consider This video in July of 2015 highlighting the fact that independent voters now outnumber Republicans and Democrats. Watch it in the below-embedded video player.

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