Gov. Tim Pawlenty (R-Minn.), considered a potential presidential candidate in 2012, has a big decision to make before he tests the waters in Iowa and New Hampshire: whether to seek a third term in the North Star State. This morning, Pawlenty told Minnesota Public Radio that an announcement will come soon.

"I'm going to be making that decision sometime this summer and announcing it sometime this summer," he told the station. "Everybody will know shortly."

Pawlenty said his decision will be based in part on whether feels he still has something to offer, adding that he likes serving as a check on the Democratic-controlled Legislature. "I have a lot of energy and ideas left," he said, adding that there are family and "career considerations" that might lead him to step down.

Part of the dilemma he faces is this: as a Republican in a Democratic-leaning state, a third term is no certainty. His first two victories came with less than 50 percent of the vote, and he's now considering deep cuts to the state budget to balance the books. "Anytime you're somewhat conservative in Minnesota and you run for election or re-election, it's always an uphill battle," he said.

A 2010 loss could torpedo a White House bid, and the specter of national candidacy would likely be an issue in that race. Stepping aside would, on the other hand, leave a lot more time for the rubber chicken circuit.