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"My belief in the need to reform our bipartite system has not faltered, but I concluded that an independent campaign for the White House was not the best way to serve our country. at the present time, "said Schultz in a letter to his website Friday.
Schultz wrote that "not enough people today are willing to consider supporting an independent candidate because they fear doing so could lead to the re-election of a particularly dangerous outgoing president."
Schultz also cited his recovery from three back surgeries.
Axios first reported on Schultz's decision.
This story begins and will be updated.
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