Mike Pence must decide by Friday whether to run for governor again

Donald Trump's vice presidential picks have nothing to lose

Indiana Governor Mike Pence faces a Friday deadline to decide whether or not he'll continue his re-election bid, during the week that Donald Trump could announce his running mate.

Indiana law does not allow Pence to run for both vice president and governor at the same time. A poll in May that was commissioned by Angie's List CEO Bill Oesterle, who's been critical of Pence in the past, found that Pence's re-election race was close -- he had a four-point lead over Democrat John Gregg. That poll also found that his disapproval rating of 42 percent exceeded his approval rating of 40 percent.

The Indiana Republican met with Trump over the July 4th weekend, and a senior adviser to the Trump campaign characterized the relationship between the two as "good," in spite of his initial endorsement of Trump rival Ted Cruz.

Pence is being vetted and is considered to be a strong contender for the job, along with Newt Gingrich, Chris Christie, and Michael Flynn.

Trump had originally said that he wanted to announce his pick at the July GOP convention: "I do think I don't want to make a decision until the actual convention, not even before it. I mean until it." But earlier this month, CBS News' Major Garrett reported that Trump could announce his veep pick later this week.

Gingrich predicted that Trump would settle on his vice presidential pick on Wednesday or Thursday and make the announcement Thursday or Friday, "so they dominate the weekend news going into the convention."

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