Newt Gingrich Finally Ends Presidential Bid

NEW YORK (TheStreet) -- So long, Newt Gingrich.

The former House Speaker announced on Wednesday the official suspension of his presidential campaign after mounds of debt and a primary losing streak rendered him irrelevant in the race for the Republican nomination.

Gingrich's long farewell

"But suspending the campaign does not mean suspending citizenship. ... I've been an active citizen since August 1958 between my freshman and sophomore year of high school," Gingrich said in a press conference.

Gingrich's popularity surged in late November as Mitt Romney failed to rally enthusiasm and Rick Perry's string of gaffes left Republican voters hungry for a more appealing candidate.

But support began to wane in December as Romney staged ad attacks on Gingrich, who still refused to disappear.