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Former U.S. Speaker Newt Gingrich will drop out of the 2012 presidential race this week, following the lead of former U.S. Sen. Rick Santorum … who suspended his campaign two weeks ago.

That would leave only U.S. Rep. Ron Paul still in the running against presumptive GOP nominee Mitt Romney.

“Over the next few days we’re going to look realistically at where we’re at,” Gingrich told his supporters earlier this week.

And where is Gingrich “at?” For starters, his campaign is $4.3 million in debt – which means he’s every bit as politically bankrupt as he is ideologically bankrupt. He’s also failed to win a primary since March 6 – when he captured his home state of Georgia.

Advisors to Gingrich tell Chris Cilizza of The Washington Post that the rotund RINO “intends to be loyal to the party,” which means we expect his girth to soon be assimilated by the Romney borg.

“He is being responsible, thinking this through, and communicating with the proper people before rushing to a microphone,” a Gingrich advisor told Cillizza.

In other words, he’s naming his price …

Gingrich will become the first candidate since the inception of South Carolina’s “First in the South” presidential primary to win the Palmetto State and yet lose the GOP nomination. Similarly, Romney would become the first GOP candidate to lose South Carolina and go on to capture the GOP nod.

What do we think of all that?

Glad you asked … we’re not happy about it.

Of course we weren’t happy about Gingrich winning our home state, either.

Pic: via Daylife