Gingrich Knows it's Over

02.01.12 3:15 AM ET

I can't remember when I've ever seen seen a less gracious concession speech than Newt Gingrich's tonight. On the other hand, few concession speeches have been more definitive. That was not the speech of a man who sees a path to victory. With its elaborate fantasy of what he'd do in his first 24 hours as president, it was rather a farewell to Gingrich's last hopes of the presidency.

The GOP nominating process now routes through caucus states, starting with Nevada. Gingrich complained in Florida that he under-performed in the final debate because Romney packed the hall. Guess what you do at a caucus? Gingrich may have his delusions of grandeur, but he has been a working politician for a long time. He can see the road ahead—and he can see where it leads, and how very quickly it leads there.