Newt Gingrich Won't Run for President in 2008

Former House Speaker Newt Gingrich told FOX News Saturday that he won't run for president in 2008.

"For the moment, I'm just going to watch the race," Gingrich told FOX News in an exclusive interview.

Gingrich hinted off-and-on at an interest in pursuing the Republican nomination over the past several months but decided his affiliation with a non-partisan advocacy group won't allow him to jump in the race.

"We would be totally irresponsible to leave this new organization," Gingrich said.

Instead of joining a crowded field of presidential hopefuls, Gingrich will dedicate his time as chairman of American Solutions for Winning the Future, a non-partisan group aimed developing ideas to solve the nation's problems.

The Web site message from Gingrich says the group is "designed to rise above traditional gridlocked partisanship, to provide real, significant solutions to the most important issues facing our country."

Click here to visit the Web site.

Gingrich would not endorse a specific candidate and said he "couldn't imagine" being a vice presidential candidate if offered the opportunity.

Gingrich joked with FOX News more than a year ago that his flirtation with a White House run was in part to sell books and give lectures, and to focus the debate on his issues.

For several months Gingrich said he would run for president if he could raise $30 million dollars. No candidate in this race has ever raised that much in one quarter.

FOX News' Carl Cameron contributed to this report.