On Thursday, Newt Gingrich told supporters that if “they pledge at least $30 million to his campaign over a three-week period starting Monday and ending Oct. 21, he will compete for the nomination.”
Today, the effort is over before it begins.
Former House Speaker Newt Gingrich will not run for president in 2008 after determining he could not legally explore a bid and remain as head of his tax-exempt political organization, a spokesman said Saturday.
“Newt is not running,” spokesman Rick Tyler said. “It is legally impermissible for him to continue on as chairman of American Solutions (for Winning the Future) and to explore a campaign for president.”
Gingrich decided “to continue on raising the challenges America faces and finding solutions to those challenges” as the group’s chairman, Tyler said, “rather than pursuing the presidency.”
Gingrich must not have had too much confidence in his chances; he’s ending a likely presidential campaign to stay on as chairman of a non-profit that no one’s ever heard of. (American Solutions is, apparently, a lucrative gig.)
As for the GOP presidential field, Republicans hoping for a credible, compelling presidential candidate, who can swoop in and save the party from electoral ruin are just about out of time. Fred Thompson was supposed to be that guy, but he’s proven to be a surprisingly awful candidate — prompting the party faithful to give Gingrich a look.
So much for that idea.