In early 1991, Bush once considered not running for re-election, asserting he seemed not to have an "ounce of energy to manage a massive project". With the end of the Persian Gulf war in March 1991, Bush had very high approval ratings, some even approaching 90%. But by 1992, many conservative Republicans' support of Bush had waned for a variety of reasons, including raising taxes and cutting defense spending. Americans were less concerned with his foreign policy successes than the nation's changing economic situation. Bush was not impressed by the polls' prediction that he would win re-election. He felt the economy would be the deciding factor in the election and could even overshadow the success of Operation Desert Storm. While 71% of the population viewed Bush's handling of foreign policy positively, only 21% approved of his handling of domestic issues. Yet, while addressing a rally in Texas on February 12, 1992, he announced his re-election bid and said: