Ron Paul Ends Second Bid For White House

June 13, 2008 6:37 a.m. EST

Washington, D.C. (AHN) - Rep. Ron Paul (R-TX), the only other Republican presidential hopeful apart from Sen. John McCain (R-AZ) still in the race, officially ended his campaign late Thursday.

Paul, the 1988 Libertarian presidential nominee who failed to win any contest this primary season, refused to make an official concession during a speech in in Houston, but sent a message to supporters in his campaign website saying, "I am deeply moved and honored by your hard work and sacrifice on behalf of our cause. However, after much serious thought, I have decided to end my campaign."

"It is time now to take the energy this campaign has awakened and channel it into long-term efforts to take back our country," he added."We have some exciting plans and projects to move the revolution forward that will come together in the next several months... We don't have to live in the kind of America the two major parties have for us."

One of those projects was launched the same day, the "Ron Paul Campaign for Liberty," which he said, in another letter to supporters, aims to "educate our fellow Americans in freedom, sound money, non-interventionism, and free markets" and "will be a permanent presence on the American political landscape."

His confirmed plans to hold a day-long rally to compete with the GOP's national convention in September, saying he intends to draw over 11,000 people. The event will be held at the University of Minnesota in Minneapolis on Sept. 2, the same week the Republican National Convention is scheduled at the Xcel Energy Center in St. Paul.

Despite having only 29 delegates to his name, according to Real Clear Politics, Paul enjoyed broad grassroots support among Republicans, Libertarians, and young voters who oppose the war in Iraq. He also reportedly has the most "You Tube" clicks than any of his presidential rivals and was able break the single-day fundraising record set by Sen. John Kerry (D-MA) three years ago when an online campaign blitz called "Money Bomb" December last year raised more than $6 million. The fund included donations from about 25,000 first-time donors.