Minnesota Gov. Tim Pawlenty, who has decided against running for a third term in 2010, will spend the next two years traveling the country to see if he can build enough support to run for president in 2012, according to associates. The Republican, who is expected to play up his humble roots and past in a populist bid against President Obama, will decide in 2011 if there is enough of a base on which to build his campaign. Those close to “T-Paw” said that his focus is the presidency, not a vice presidential nomination or an effort to raise his name recognition en route to a bid in 2016. When Pawlenty made his decision to stick to just two terms, it was viewed as his opening move in the 2012 campaign.

Of course Pawlenty still has 18 months left in his term. It remains uncertain how his decision to unilaterally eliminate the state’s remaining $2.7 billion deficit will play politically. Pawlenty is expected to announce the budget-cutting details this week.

“As Sen. John McCain comes to an end in his search for a running mate, there are new indications today that he is looking at Minnesota Gov. Tim Pawlenty and not foe-turned-pal Mitt Romney. Sources close to Romney tell us that his camp has not had vice presidential talks and dealings for a while, leading them to believe that the other running mate topping McCain’s list has edged him out.”

Most of the DC media gang still thinks McCain will name his pick this Friday to seize back the news cycle after the conclusion of the Democratic convention the day before. It’s been widely reported that McCain will be in Ohio for a rally Friday.

For what it’s worth, Bedard’s note about Pawlenty is consistent with a different rumor that swept McCain/GOP insiders in Michigan last week. As we reported then, they were hearing that Minnesota, not Ohio, would be the place for Republican operatives to show up this Friday.