Former US House speaker announces 2012 bid
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Former U.S. House Speaker Newt Gingrich on Wednesday formally announced that he will seek the Republican nomination to run for presidency in 2012.
"I believe we can return America to hope and opportunity," he said in a YouTube video. "We've done it before, we can do it again."
As a co-author of the 1994 Contract with America, Gingrich was in the forefront of the Republican Party's dramatic success in that year's mid-term elections and subsequently was elected Speaker of the House.
However, following Republican losses in the 1998 mid-term elections, Gingrich resigned both his Speakership and his congressional seat.
Gingrich is the first major 2012 candidate to enter the race, though there are other potential bidders who also indicated intention to run.
Republican House Representative Ron Paul, former Massachusetts Governor Mitt Romney, former Minnesota Governor Tim Pawlenty, former Louisiana Governor Buddy Roemer and former Godfather Pizza CEO Herman Cain have all established exploratory committees, a move that might lead to a formal bid.
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