The former vice-president, Mr Dan Quayle, became the latest casualty of the awesome fund-raising capacity of Governor George W. Bush when he announced he was dropping out of the contest for the Republican nomination for next year's presidential election.
He is the fourth contender to abandon the race for the Republican nomination in the past two months as Mr Bush has piled up an intimidating lead.
Mr Quayle, who had earlier pledged to contest the primary elections in spite of Mr Bush's lead in the polls and in campaign funds, yesterday conceded he could not hope to overcome these handicaps.
Mr Quayle's campaign was in debt. He was badly beaten in the Iowa straw poll last month and is trailing far behind Mr Bush in polls. "The vice-president concluded he did not have the money to compete effectively," said an aide.
During the first six months of this year, Mr Quayle managed to raise $3.4 million, less than a 10th of the record amount raked in by Governor Bush.
The aide said he was unaware if Mr Quayle would endorse Mr Bush.
It was a bitter moment for Mr Quayle, who was vice president to Governor Bush's father in the White House from 1988 to 1992. He believed that with this experience he was far more qualified to be president.
But while he is still popular among Republicans, especially conservatives, his campaign never got off the ground and the media constantly recalled his gaffes as vice-president such as his misspelling of "potato" when visiting a school.
As Mr Quayle was announcing his departure from the race, Senator John McCain of Arizona officially opened his campaign for the Republican nomination in New Hampshire where the first primary will be held in February next year.
Mr McCain is a former war hero who spent five years in a North Vietnam prison after his aircraft was shot down during a bombing raid. His two main issues are the reform of campaign finance laws and defence.
In his address yesterday he issued "a new patriotic challenge" to the US, promising to return dignity to the White House, strength to the military and honesty to government that is now "a spectacle of selfish ambition". He also promised to protect social security, lower taxes and improve education.
In spite of his war record, Mr McCain is seen as something of a maverick in the Republican party for his campaign to reform election fund-raising where Republicans usually outdo the Democrats.
With the departure of Mr Quayle, the number of contenders for the Republican nomination is now eight. But of these, Mr Pat Buchanan is apparently on the brink of bolting to the Reform party and only Mr McCain, Ms Elizabeth Dole and the millionaire publisher, Mr Steve Forbes, are seen as serious challengers to Governor Bush.