Pataki decides against run for White House

UPDATED 1:38 p.m. ET

That was fast.

On Monday, former New York Gov. George Pataki was "seriously considering" a run for the White House and on Friday he said he thought about it and decided not to get in the race.

"I remain committed to the advancement of real, politically viable reforms to entitlements and rolling back the size and cost of the federal government. At this time, I will continue to do this as the leader of No American Debt and not as a candidate for president," Pataki said in a written statement. Pataki serves as honorary co-chair of No American Debt, an organization dedicated to reducing the federal debt.

Pataki is scheduled to make an appearance at Republican fundraiser this weekend in Iowa, a key state in the nomination process. Pataki was expected to make his intentions known at the Des Moines event, but media outlets reported his decision Friday morning.

Spokesman David Catalfamo told CBS News on Monday said the three-term Republican governor, who served from 1995-2006, was "deeply disappointed by the failure of leadership by President Obama on the debt issue and in the lack of serious solutions being offered by the current Republican field."

"The governor is seriously considering getting into the race," Catalfamo added at the time.

In the last election cycle, the former governor also served as chairman of Revere America, a Washington based non-profit organization which helps elect Republican congressional candidates.

Pataki faced an uphill battle as a relatively moderate Republican in the current election cycle dominated by the conservative wing of the party. And he lacked the name recognition that other candidates, including recent entrant into the race Texas Governor Rick Perry, have.