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Posted: February 7, 2008 1:49 PM
Romney 'Suspends' Campaign for Republican Nomination
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Former Massachusetts Gov. Mitt Romney “suspended” his campaign for the Republican nomination to become president Thursday. In a speech in Washington, D.C., at the annual conference of the Conservative Political Action Committee, Romney conceded he did not have the support to continue and said he was stepping aside for the good of the Republican Party.

“I must now stand aside, for our party and our country. If I fight on in my campaign, all the way to the convention, I would forestall the launch of a national campaign and make it more likely that Senator [Hillary] Clinton or [Barack] Obama would win,” Romney said in remarks prepared for the convention and given to reporters. “And in this time of war, I simply cannot let my campaign be a part of aiding a surrender to terror.

“This is not an easy decision for me. I hate to lose. …If this were only about me, I would go on. But I entered this race because I love America,” Romney said.

Despite ending 2007 with more money than any other Republican candidate, with $35.4 million of his $88.5 million total coming from his own pocket, according to Center for Responsive Politics, the venture capitalist from Boston and one-time president and CEO of the Salt Lake Olympics organizing committee could not connect with voters.

Two days after a disappointing Super Tuesday showing, Romney sits far behind Arizona Sen. John McCain in the delegate count. As of Thursday morning, McCain led with 698 delegates compared to Romney with 278, former Arkansas Gov. Mike Huckabee with 192 and Texas Rep. Ron Paul with14. To gain the nomination, a candidate must have 1,191 delegates secured.

Because he is “suspending” his campaign, Romney will keep the delegates he has won. But his stepping aside virtually secures the Republican nomination for McCain.

For Romney, it seemed the writing was on the wall Tuesday night after McCain picked up big wins in key winner-take-all states. Romney’s loss in delegate-rich California was especially crippling to his campaign.

“I just don’t see how Mitt Romney has any chance,” David Brooks said on the NewsHour Wednesday. “In the South, he came in third. If he was going to mount a campaign on the basis of a conservative resurgence, he would have not come in third in the South, and he would have been close in California. He wasn’t close in California.”

For the Republican Party, the search for its presidential candidate appears to be over. All that remains after the remaining primary races is McCain’s coronation in Minneapolis in September.