Former Wisconsin Governor Tommy Thompson has his eyes on the Oval Office, officially announcing his candidacy for U.S. president on April 4. In entering the race, Thompson is a self-admitted “black-horse candidate.”

“Thompson has to be considered as a long shot certainly at this point,” UW-Madison political science professor David Canon said.

Canon said Thompson’s best opportunity to gain ground is in Iowa, where his Midwestern background and brand of politics may hit home.

But with not nearly enough money—candidates need to raise around $100 million by the primaries to make any mark and Thompson has raised less than $400,000—and a lack of time to build a name for himself, many doubt whether Thompson can compete with more well known GOP candidates like Rudy Guiliani and John McCain.

During his announcement speech Thompson said, “I’m going to keep talking specifics. Keep offering ideas. I want to ignite and fuel a national debate on the best ways to get America back on track.”

As the “father of welfare reform,” Thompson plans to make healthcare an integral part of his campaign strategy. In his speech, Thompson gave a three-step plan for healthcare reform.

Thompson also revealed a three-step plan for Iraq, which included holding national elections in Iraq to see if Iraqi citizens still support an American presence.

Thompson has a long history in state and national politics. He served as Wisconsin’s Governor for 14 years and then served under President Bush as Health and Human Services Secretary from 2001 to 2005. He was also elected Chairman of Board for the Global Fund to Fight AIDS, Tuberculosis and Malaria in 2003.