UPDATE: Wednesday, May 2, 2012
Newt Gingrich can now call himself a former presidential candidate.
As expected, the former House speaker has bowed out of the Republican presidential contest just short of a year after he go
into the race. He says it was "an amazing year" for him, his wife, Callista, and his entire family.
After losing contests in five states last week, Gingrich said it was clear that Romney would be the nominee and he signaled that his
topsy-turvy campaign had reached its end.
Gingrich now has the added challenges of rebuilding his image as a one-man GOP idea machine and paying off at least $4.5 million in campaign debt.
Joined by his wife, he made the announcement at an Arlington, Va., hotel, across the river from Washington.
Wednesday, May 2, 2012
As Newt Gingrich prepared to abandon his presidential bid, President Barack Obama saw it as an opportunity to swipe at Mitt Romney.
Obama's re-election campaign on Wednesday released an 80-second web video of clips from the Republican primaries in which Gingrich criticizes Romney — Obama's likely Republican opponent — on issues from immigration to his tenure as a venture capitalist.
"Newt Gingrich: Frankly, not Mitt Romney's biggest supporter," says the ad's tagline.
Gingrich planned to formally announce Wednesday afternoon that he is suspending his campaign.
The former House speaker won primaries in just two states — South Carolina and Georgia, which he represented in Congress for 20 years.
His campaign also has reported more than $4 million in debt.