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Chafee Joins Race for Democrats' Presidential Nod

Former Rhode Island Governor Lincoln Chafee waves after announcing his candidacy for the Democratic presidential nomination during a speech at George Mason University in Arlington, Virginia, June 3, 2015.

Former Rhode Island Governor Lincoln Chafee formally announced his bid for the 2016 Democratic presidential nomination on Wednesday, becoming the third candidate to challenge party front-runner Hillary Clinton.

Chafee, 62, a former Republican U.S. senator as well as an independent for a short time, announced his campaign in a speech at George Mason University in Virginia, just outside Washington. He became a Democrat in 2013.

"I enjoy challenges and certainly we have many facing America," Chafee said, adding: "Today, I'm formally entering the race for the Democratic nomination for president."

Although his 2016 bid is a long shot, Chafee's entry into the race adds one more challenger facing Clinton, the former senator and U.S. secretary of state. Former Maryland Governor Martin O'Malley announced his bid for the Democratic nomination on Saturday, and U.S. Senator Bernie Sanders of Vermont also is running as a Democrat.

Nine Republicans have entered the presidential race so far, hoping to secure their party's nomination.

Chafee, whose father, John Chafee, also was a Rhode Island governor and Republican U.S. senator, has touted his judgment and "level-headedness" as a leader.

"If we as leaders show good judgment and make good decisions, we can fix much of what is ailing us," he said in his speech.

"We must deliberately and carefully extricate ourselves from expensive wars," said Chafee, the only Republican senator to vote in 2002 against the use of force in Iraq. He cited education, infrastructure, health care, the environment and a strong middle class as priorities. "Without a doubt we now have prodigious repair work in the Middle East and North Africa. We have to change our thinking. We have to find a way to wage peace," he said.

Chafee served from 1999 to 2007 in the Senate as a Republican, then switched his affiliation to independent when he ran for governor of Rhode Island in 2010. In his last year as governor, he become a Democrat.