Republican presidential candidate and former U.S. House speaker Newt Gingrich is said to be poised to officially suspend his campaign for his party's presidential nomination. An announcement is due on the afternoon of May 2 at a venue in Virginia. During this cycle, the Georgian won only two state primaries while piling up in excess of $4 million in campaign debts. Newt thanked his loyal supporters in a video that was issued in advance of the May 2 announcement, even while he did not mention Republican front-runner Mitt Romney.
Gingrich did say, however, that a second term for President Barack Obama would be a "genuine disaster." It is expected that Gingrich will endorse Romney, the former Massachusetts and presumptive Republican nominee for the November general election. Said Gingrich in the video "All of us I think have an obligation to do whatever we can to defeat Barack Obama."
After an initial win in South Carolina, Gingrich's campaign stuttered after he lost the primary in Florida. The only other success for his campaign was in his home state: Georgia.
Congressman Ron Paul, a Republican who leans toward libertarian values, is now the only other Republican still fighting it out with Romney. However, the Texan lags behind Romney in the number of Republican delegates to the convention. However, Romney does lack the requisite number of delegates to be assured of the nomination.
At an event that is long past his campaign's expiration date, Newt Gingrich is scheduled to suspend his presidential campaign at a press conference Wednesday afternoon in Virginia.
"All of us have an obligation I think to do whatever we can to defeat Barack Obama," Gingrich said in a video released Tuesday that did not mention Mitt Romney. He also said, "I want you to know that we're going to continue out there on the road. Callista and I will be talking, campaigning, making speeches, doing everything we can to help defeat Barack Obama."
Gingrich's campaign was studded with confusing reversals and statements critical of fellow Republicans. For example, while he at first supported President Obama's involvement in the Libyan civil war in 2011, he later reversed himself. Also, the white-haired former Speaker of the House critiqued Republican House Budget Chairman Paul Ryan's Medicare reform proposal and characterized it as "right wing social engineering." While he later apologized, he also said those who quoted him did so dishonestly.
Gingrich also put his campaign on hold in 2011 in order to take a sea cruise with his wife, Callista, in the Mediterranean.
During debates, Gingrich did not focus on the other Republicans but instead focused on President Obama. It was not until the end of 2011 that Republicans began to look more seriously at Gingrich, after businessman Herman Cain dropped out following revelations of certain personal indiscretions. Polling numbers then made Gingrich look like a contender.