Newt Announces 2012 White House Bid

CNN reports

As some GOP activists and fund-raisers hope other candidates will decide to enter the field, former House Speaker Newt Gingrich is set on Wednesday to become the first of the serious contenders to formally announce his candidacy for the 2012 Republican presidential nomination.

"I have been humbled by all the encouragement you have given me to run. Thank you for your support," he said Monday on his Facebook page previewing the announcement.

Gingrich has traveled to key early voting states trying to build a network of support and meeting with fund-raisers. He has assembled a campaign team and told supporters he aims to raise $100 million.

During his appearances, he has pushed a wide array of policy proposals as he has begun to lay the foundation of a campaign and prove he is a serious candidate -- not just a symbol of the past.

"I expect the American people in the end will be remarkably fair. They'll render judgment and they'll decide whether or not Newt Gingrich is somebody that they think can solve the country's problems and be the kind of leader they want for this country," Gingrich told Fox News in March.

He has given his audiences a lot of political red meat and has not shied away from controversy. Speaking at the Iowa Faith and Freedom Coalition event in Iowa in March, he said there is a difference between a majority of Americans and "the secular socialist people around (President Barack) Obama and the degree to which they do not understand America, cannot possibly represent America and cannot lead us to success."

Recognized as probably one of the smartest Republican leaders, his agenda includes overturning the health care reform bill, eliminating the Environmental Protection Agency and pushing more development of energy sources and advocating tax cuts.

"He is a polarizing figure (who) comes with a fair degree of baggage," Ford O'Connell, who worked on the 2008 McCain-Palin ticket, told CNN. He said Gingrich has to make himself relevant to the current political climate. "He does represent the past but has to show why he represents the future," O'Connell said, adding that he thinks right now Gingrich is having difficulty doing that.

"If he can demonstrate why he is relevant to the future in current political climate," O'Connell said, "the baggage will dissipate."

UPDATE: Newt Gingrich has released his official announcement video.