Rick Perry Drops Out of 2012 GOP Race

Presidential hopeful Rick Perry has dropped out of the race for the Republican nomination and endorsed Newt Gingrich. CNN broke this story early Thursday, just hours ahead of the final debate before the South Carolina primary on Jan. 21. The news was confirmed even before Perry announced the suspension of his campaign when the fifth podium in the debate hall was removed, leaving four: one for Rick Santorum, Newt Gingrich, Ron Paul and Mitt Romney.

"I ran for President because I love America," Perry began his speech Thursday. "I love our people. I love our freedom. This nation is greater than any one man. [While traveling across America with my campaign,] I discovered this tremendous purpose, the resiliency of our people. They never lost hope, despite the circumstances we find ourselves in. They haven't stopped believing in the American dream." Perry went on to explain, "What's broken in America is not our people; it's our politics. What we need in Washington is a [smaller federal government] so our people can live more freely."

Perry continued, "I've never believed that the cause of conservatism is embodied by one man. It is a movement of ideas that is greater than any one of us, and will live long past any of us in our lives. We need bold, conservative leadership that will give the American people their country back. I've always believed the mission is greater than the man."

Finally, Perry got to the point and announced he would be dropping out of the GOP race and suspending his efforts going forward. "There is no viable path forward for me. Therefore, today I am suspending my campaign and endorsing Newt Gingrich for President of the United States."

Perry went on, "I believe in the power of redemption. [Newt Gingrich] is not perfect, but who among us is?" Perry also described Gingrich as "a visionary", and further explained his decision to bow out and endorse another GOP candidate. "I know when it's time to make a strategic retreat."

Perry kept a positive tone throughout his announcement. Perry closed by thanking his family for their support. "As I head home, I do so with the love of my life by my side, a woman who makes every day good." Perry kissed his wife lightly and thanked her and his children for standing by him throughout the campaign. Perry did not answer any reporters' questions.

Immediately following Perry's announcement, Gingrich held a press conference and said he was "humbled and honored" by the endorsement.

Perry's decision to drop out of the race for the GOP ticket in the 2012 presidential election is no doubt guided by his recent losses in both the New Hampshire and Iowa caucuses. Results of primaries and caucuses can be found on the CNN Election Center 2012 web page.

Sources:
Rick Perry campaign announcement - 1/19/2012 - televised on CNN
CNN Election Center 2012