***After this story was posted, this offical tweet came through:
The image attached to the tweet was a thumbs up Rick Perry in a jogging suit, as seen to the right.
In the run-up to the Iowa Caucuses, Perry's advisers had looked ahead to South Carolina's primary later this month as the first 'real' test of the governor's presidential campaign.
Rice University Political Science Department Chair Mark Jones says Perry needed to finish stronger than a distant fifth to have any momentum to bring to South Carolina. Jones also says the governor's announcement that he's reassessing his campaign is a signal to donors and supporters that he's on his way out.
"So if he's not going to end his campaign, he needs to let them know very quickly and then get in the game in South Carolina such that he could do something as sort of a last gasp to revive his sagging campaign."
Jones says if Perry quits, the governor will say he's suspending his campaign, rather than terminating it.
"In practice, it means the exact same thing. But, if you suspend your campaign, you can still raise money to support it. Whereas, if you end your campaign, you can no longer raise money."
The governor will need to continue raising cash to pay off campaign debts. Jones estimates Governor Perry and his allied political action committees spent around $10 million in Iowa, more than any other GOP candidate.