Mitt Romney pulls out of 2016 presidential race

Republican Mitt Romney has announced his intention to pull out of the 2016 presidential race after considering a third run, and according to him, it is high time he allowed the next generation of party leaders a chance at the White House.

Romney’s decision to step down will surely improve the chances of rivals like Florida Governor Jeb Bush who has been widely acclaimed as representing the varied interests of Republicans.

“After putting considerable thought into making another run for president, I’ve decided it is best to give other leaders in the party the opportunity to become our next nominee,” Romney said.

As a result of Romney’s volte-face, many financial backers are turning elsewhere seeking where to put their money. Although Romney had told private donors at a meeting some three weeks ago that he was strongly considering jumping into the presidential race, and even repeated his willingness someplace else to that effect; and considering the fact that he was leading in many national polls as well as in key swing states, his decision to pull out turns out to be a disappointment to many people.

“So I am convinced that we could win the nomination, but fully realize it would have been difficult test and a hard fight,” Romney said.

In his statement, Romney said he still believed he would have the best chance of beating the eventual Democratic nominee because of his message of “making the world safer” and improving the U.S. economy for the middle class; but he then he did not want to make it more difficult for someone who might have a better chance of getting elected.

“I believe that one of our next generation of Republican leaders, one who may not be as well known as I am today, one who has not yet taken their message across the country, one who is just getting started, may well emerge as being better able to defeat the Democrat nominee,” he said.

“Mitt is a patriot, and I join many in hoping his days of serving our nation and our party are not over,” Bush said in a statement in response to Romney’s decision.

Romney ran for presidency in 2008 and again in 2012 before being defeated by Obama; and he has now back-pedaled on his proposed third-time bid.

“What I think right now is his time has come and gone,” she said. “I think he missed the boat.” Said Theresa Kostrzewa, a Raleigh, North Carolina, Republican who raised money for Romney in 2012.