24 hours after Governor Blunt announced he's not going to seek a second term as Missouri Governor, Wednesday he explained why.

The announcement Tuesday came as a big surprise to both Democrats and Republicans.

The governor held an hour-long press conference Wednesday morning to answer questions from reporters from all over the state.

Blunt wouldn't get into the specifics as to why he's not going to seek another term, but he did repeat claims from Tuesday night's YouTube video, and said he wants to spend more time with his family.

Many of the questions at Tuesday's press conference focused on Blunt's poor showing in the polls and whether or not those numbers contributed to his decision.

He said they did not and that he feels he's accomplished everything he wanted in his first term as governor, thus there's no reason to run again.

Blunt went on to say he will continue to work just as hard for remainder of his term as he has in the first three years.

Beyond that, he would not speculate on his future political aspirations, but he did not rule out that possibility. No word on what exactly he plans to do. He released a YouTube address Tuesday to Missourians announcing he is not running for re-election.

He says that having achieved virtually everything he set out to accomplish when he ran for governor, he will not seek a second term.

So far there is only speculation on who could fill his position as the Republican candidate. Both State Treasurer Sarah Steelman and House Speaker Rod Jetton have said they're looking into a possible run.

Lt. Governor Peter Kinder announced he is running for governor with this statement:

"As Lt. Governor and President Pro Tem I have brought fundamental change to state government. I have served as a change agent my entire career and look forward to continuing my positive leadership. Missourians deserve a strong economy to create new higher paying jobs, a world class education, and affordable and accessible health care.  I am the right person to deliver the positive change Missourians deserve."

Last year Blunt announced he supported presidential candidate Mitt Romney. Romney released this statement: "At the end of this year, Governor Blunt will leave office knowing that he has accomplished much for the people of Missouri.  As a conservative leader and dedicated public servant, his efforts to improve the lives of others will not end when his term comes to a close.  Ann and I wish Matt and Melanie the very best over the next year and in all their future endeavors."

This is what Blunt said in his address:

"In 2004 I promised leadership, vision and change. It was more than a slogan, it defined a mission. You elected me to chart a new course. And together we are creating a future of greater opportunity for all Missourians.

"We inherited a budget that was $1.1 billion in the red and turned it into three straight surpluses without increasing taxes. In fact, we cut taxes.

"In contrast to the old education withholdings and cuts, my budgets will have delivered 1.2 billion new dollars to our universities, classrooms and students. A broke and broken Medicaid system is being transformed into a network of care offering vulnerable Missourians healthier lives at a cost taxpayers can afford. We have turned record job-loss into nearly 90,000 new jobs.

"Hundreds of millions of dollars in waste have been eliminated and we reduced the size of government. What we set out to achieve four years ago has been accomplished.

"Once when asked if he were running for re-election another governor responded, "Yes, I like being governor." When I read that I thought at the time that I never wanted to run for any office just to hold it. I did not run for governor to have a title, but to bring change to state government. The habit of politicians is to remain in office and the desire to prove oneself in the next election is strong. After a great deal of thought and prayer, and with the knowledge that we have achieved virtually everything I set out to accomplish, and more, I will not seek a second term in the upcoming election. Because I feel we have changed what I wanted to change in the first term there is not the same sense of mission for a second.

"At the end of my term, I will have served 20 years in public service: 10 years in the United States Navy followed by 10 years in state government. Melanie and our son William Branch mean the world to me. I have spent more time away from them than I would like. We are ready for the next chapter in our lives and I am looking forward to spending more time with them.

"Some will wrongly think that this is a retirement from the effort to improve the lives of Missourians. But they will have failed to understand that the greatest and wisest leadership of our state is not housed within the ornate offices of the Capitol. It springs from our citizens, communities, churches and institutions of private life.

"There are new and important initiatives we can achieve this year. Their success will help keep the change working for Missouri families. I will focus on these initiatives.

"To serve as your governor is a great privilege. I will continue to work every day to be worthy of the faith and confidence you have placed in me."

Blunt took over for Democrat Bob Holden in 2005.

House Republican Whip Roy Blunt issued the following statement today after his son, Gov. Matt Blunt, announced his decision to not seek re-election this year:

"I'm proud of the job Matt has done for our state. Under his leadership, Missouri went from a state that consistently lost jobs to a state that consistently created them all while creating new opportunities for people of all walks of life. I respect his decision to spend this year being the best governor he can be in service of our state and its people, rather than letting the focus shift to pure politics."

Senator Mike Gibbons said of Blunt's decision, "The governor was resolute and at peace when he told me along with other Republican leaders today that he would not be seeking re-election. I'm grateful I've had the opportunity to serve with Gov. Blunt whose commitment to reform, action and success is as great as mine. From schools to work to a day in court, along with property rights protections, Missourians' lives are better thanks to Matt Blunt's leadership. When I announced in October to be your next Attorney General it was because I believed it is where I can do the most to improve the lives of the people of Missouri. I still believe that. I want to protect the people in their homes, towns and farms and restore confidence and integrity to the office."