Texas Governor Rick Perry announced Thursday morning that he is dropping out of the presidential race and is endorsing Newt Gingrich for the Republican nomination.

David Goldman / AP
Republican presidential candidate Rick Perry pauses during a news conference in North Charleston, S.C., on Thursday, Jan. 19, where he announced he is suspending his campaign and endorsing Newt Gingrich. His son Griffin is at left.
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Jim Lo Scalzo / EPA
Rick Perry waits to greet Iowans at the Santa Maria Vineyard and Winery in Carroll, Iowa, on Jan 2, 2012.