The former vice president, who hoped to overcome long odds and ridicule to step up to the Republican presidential nomination in 2000, has given up his White House dreams.
Clinton spokesman Joe Lockhart Tuesday said the president feels it is somewhat unfortunate when someone drops out of the race because of money, not because of a rejection of ideas.
However, asked if the president would have contributed to Quayle's campaign, Lockhart said, "No."
Quayle made his withdrawal announcement at a news conference Monday in Phoenix, saying, "There's a time to stay and there's a time to fold. There's a time to know when to leave the stage. Thus today I am announcing that I will no longer be a candidate for president of the United States."
He thus became the latest victim of Republican frontrunner George W. Bush's juggernaut.
"I was facing a campaign where the frontrunner would have up to $100 million to spend, and an unprecedented front loading of the primary system made the task for me of winning the nomination of my party virtually impossible," Quayle said.