GOP Presidential hopeful Newt Gingrich's quest to solidify himself as the conservative alternative to Mitt Romney has gotten a boost from the Reagan name.

Michael Reagan, President Ronald Reagan's adopted son, has endosed the former Speaker of the House, because Gingrich, "exemplifies the conservative principles my father championed: strong national defense, lower taxes and smaller government." "Newt understands that we must reject and fundamentally change the course that Barack Obama has set for America. Newt is our only chance in 2012 to contrast a Reagan conservative with Obama's European styled socialism," Reagan wrote in a statement. Reagan describes Gingrich as having changed Washington in the 90's with his Contract with America, and the ability to do that again now.

During the Iowa Caucuses, Gingrich also secured the support of Art Laffer, the man commonly referred to as the godfather of supply-side economics.

The timing of the endorsement is good for Gingrich. It follows a comment from Mitt Romney at the CNN Debate, where he quipped, "You [Gingrich] were mentioned once in Ronald Reagan's diary. He said that you had an idea in a meeting with a young congressman, he didn't think it was a good idea and he dismissed it."