Former House Speaker Newt Gingrich has decided not to seek the White House in 2008.
The news is something of a surprise, since Gingrich said only days ago that he would seek the presidency if he could raise $30 million in campaign pledges.
According to press reports, Gingrich's decision was based on the fact that he could not run for president and remain head of his nonprofit political organization, American Solutions.
We didn't see it in the news, but maybe those pledges weren't adding up, either.
In any case, Gingrich makes a good living on the "rubber chicken" speaking circuit, where he commands thousands of dollars per speech. He also writes books and articles, and serves as a paid commentator for that perfectly objective journalistic organization known as Fox News.
Our take: Gingrich made the smart move. Although he still has a following in Republican circles, we see no evidence of a massive Newt groundswell there or anywhere else.