From abcNEWS:
Democratic Sen. Evan Bayh announced today that will not seek a third term — a huge blow to Democrats and an opportunity for Republicans to pick up another Senate seat in 2010.
“There are better ways to serve my fellow citizens,” Bayh said at a news conference this afternoon. “I love working for the people of Indiana. I love helping our citizens make the most of their lives, but I do not love Congress.”

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