Former Speaker of the House Newt Gingrich is officially running for President.

The Republican figure made his long-awaited announcement on Wednesday through a video posted to YouTube, in which he said, "I believe we can return America to hope and opportunity ... There's a much better American future ahead."

Gingrich, a former congressman from Georgia, provided a link via Twitter to his official campaign website, which has the slogan 'Winning the Future Together: Right Policies, Right Results."

In 2010, Gingrich released the book, To Save America: Stopping Obama's Secular-Socialist Machine, in which he claims the federal government in broken and then lays out a plan for putting the United States back on track. He states, "America needs saving, and it's up to us to do it." With his announcement today, it appears Gingrich is taking his own advice.

The video painted a bright picture, but the New York Times was quick to point out Gingrich's past indiscretions including an ethics violation while he was speaker and admitted infidelity which led to two divorces.

Below, watch the announcement video, then sound off: Can Gingrich defeat Barack Obama in 2012?

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