Breaking: CNN reports Rick Perry to drop out today, will endorse Newt Gingrich

(By Ed Morrissey, Hot Air) - CNN reports that Rick Perry will withdraw from the Republican presidential race today, based on information from two sources in the campaign. No one who followed the polling can be surprised by this decision. Perry has not come out of the mid-single digits in South Carolina for weeks, and his debate performance on Monday was good but no game changer. The question for Perry was why he bothered to continue at all after his expensive poor showing in Iowa and his non-entity status in New Hampshire and South Carolina.

Politico reports that Perry will endorse Newt Gingrich for the nomination on his way out:

Rick Perry is expected to drop out later this morning at an 11 a.m. press conference and endorse Newt Gingrich, two sources confirmed to POLITICO.