Perry Drops Out & Endorses 'Conservative Visionary' Newt Gingrich

CHARLESTON, S.C. (The Blaze/AP) -- Texas Gov. Rick Perry abandoned his presidential bid on Thursday and endorsed fellow contender Newt Gingrich. During a press conference, Perry called the former House Speaker a "conservative visionary."

The endorsement, however, didn't come without a reference to Gingrich's mounting controversy regarding accusations from his ex-wife that he requested an "open marriage."

“Newt is not perfect, but who among us is? And, I believe in forgiveness and redemption, for those who seek God,” Perry said. “He has the courage to tell those Washington interests to take a hike, if that’s what’s in the best interest of our country.”

The announcement came just two days before the pivotal South Carolina primary as Republican front-runner Mitt Romney struggles to fend off a challenge from the former House speaker. Perry made the withdrawal known at a hotel in North Charleston.

Here's some of the text from his speech:

Our country is hurting with more than 13 million unemployed, nearly 50 million on food stamps and a debt of more than $15 trillion and growing.

We need bold, conservative leadership that will take on the entrenched interests and give the American People their country back.

I have always believed the mission is greater than the man.

As I have contemplated the future of this campaign, I have come to the conclusion that there is no viable path to victory for my candidacy in 2012.

Therefore, today I am suspending my campaign and endorsing Newt Gingrich for president.

Adding to the intrigue in the last hours of the South Carolina campaign, a bus emblazoned with Herman Cain's name sat in the hotel parking lot where Perry spoke. Cain, a tea party favorite, dropped out of the race late last year.

Perry has faced calls in recent days to drop out of the race in hopes of compelling conservative voters, whose support has been divided among several like-minded candidates, to rally behind Gingrich in hopes of stopping Romney.

Romney, the former Massachusetts governor considered the more moderate candidate in the race, has benefited thus far from having several conservative challengers competing for the same segment of voters. New polls show Romney leading in South Carolina but Gingrich gaining steam heading into Saturday's contest in a state where conservatives hold great sway in choosing the GOP nominee.

Perry's decision to endorse Gingrich does not necessarily mean conservatives will rally behind the former House speaker. Former Pennsylvania Sen. Rick Santorum, a champion of the anti-abortion issue, is still in the race and over the weekend was endorsed by a group of evangelical leaders.

And there's no guarantee that the Texas donors who fueled Perry's bid will shift to Gingrich, even if the governor asks them to.

Romney has been working to court them in recent weeks, having made repeated visits to Texas to meet with major Republican donors. He also won the backing of former President George H.W. Bush. Several Perry supporters, who spoke on the condition of anonymity to avoid publicly discussing their next steps before Perry's announcement, said they have been approached by Romney's campaign and will support him as the most-likely candidate to face President Barack Obama in November.

At least three so-called "super" political action committees have sprung up since early 2011 supporting Perry. One, Americans for Rick Perry, raised about $193,000 during the first half of 2011, federal election records show.

But none of the groups has been more prominent than Make Us Great Again, which aired more than $3.3 million worth of ads in Iowa and South Carolina supporting the Texas governor. A spokesman for the group did not immediately return calls from the AP seeking comment about whom, if anyone, the PAC would support after Perry drops out.

Perry entered the race last August to great fanfare and high numbers in polls. But his standing quickly fell after a series of gaffes and other verbal missteps. Those errors called into question whether the Texas politician who had never lost a race during his three-decade career in elected office was ready for the national stage.

His biggest flub came in a nationally televised debate in early November, when he could not remember the name of the third Cabinet department he pledged to eliminate.

Perry could only manage to say, "Oops." Making fun of himself afterward, he told reporters: "I stepped in it."

It was a cringe-inducing moment replayed more than a million times on YouTube. The memory lapse not only solidified Perry's reputation for weak debate performances, it gave the impression that he couldn't articulate his own policies. The stumble further tamped down his already faltering poll numbers.

Perry, 61, was relatively unknown outside of Texas until he succeeded George W. Bush as governor after Bush was elected president in 2000. A former Democrat, Perry had already spent about 15 years in state government when he became governor. He went on to win election to the office three times - the most recent was in 2010 - to become the state's longest-serving chief executive.

Part of Perry's appeal came from his humble beginnings as a native of tiny Paint Creek, Texas. He graduated from Texas A&M University and was a pilot in the Air Force before winning election in 1984 to the Texas House of Representatives. He switched to the GOP in 1989, and served as the state's agriculture commissioner before his election as lieutenant governor in 1998.

Perry's success as a politician suggested he would be a strong competitor to Obama. He had never lost a race in Texas, and his fight against Sen. Kay Bailey Hutchison for the Republican gubernatorial nomination in 2010 showed how tough he could be on a rival.

Perry picked Aug. 13 for his official announcement speech, the same day as the Iowa Straw Poll. While rival Michele Bachmann won that poll, the Texas governor cast a shadow over her victory by challenging her as conservatives' best hope for winning the nomination and defeating Obama.

He entered near the top of some polls. But his support of a Texas policy to allow children of illegal immigrants to pay in-state tuition rates soon proved to be problematic with conservatives nationwide. So, too, did his 2007 order that would have required schoolgirls in Texas to be vaccinated against human papillomavirus. Although state lawmakers overturned the order, Perry defended the vaccination as necessary to combatting the sexually transmitted virus that can cause cervical cancer.

His performance on the campaign trail also led to concerns about how his rhetoric would sound to a national audience. During a campaign stop in Iowa in August, he suggested that Federal Reserve Chairman Ben Bernanke would be practically committing treason if he were to print more money and said, "I don't know what y'all would do to him in Iowa, but we would treat him pretty ugly down in Texas."

A Perry speech to a New Hampshire audience in October led to a damaging video, during which he appeared unusually animated - "loopy" to some observers - a stark contrast to the image of the serious, starchy governor he had projected. Amid questions, Perry later told reporters that he hadn't been drinking or taking medication at the time and called it "a pretty typical speech for me."

More flubs followed. While criticizing the nine-member Supreme Court to a newspaper editorial board, he referred to "eight unelected and frankly unaccountable judges" and struggled to come up with the name of Justice Sonia Sotomayor, then called her "Montemayor." He urged college students in New Hampshire to support his candidacy, "those of you that will be 21" on Election Day, though the voting age is 18.

The widespread criticism of those performances and his rivals' attacks on his immigration and vaccination policies led to a significant drop in support.

This is a breaking story. Updates will be added.