Jon Huntsman Jr. drops out of presidential race, endorses Mitt Romney

UPDATE: MYRTLE BEACH, S.C. (AP) — Republican Jon Huntsman has dropped out of the GOP presidential race and has endorsed Mitt Romney.

Huntsman said the former Massachusetts governor gives the Republican Party its best shot at defeating President Barack Obama in the November general election.

SALT LAKE CITY — Former Utah Gov. Jon Huntsman Jr. has dropped out of the presidential race.

Huntsman endorsed the other Republican in the race for the White House with Utah ties, former Salt Lake Olympic leader and fellow Mormon Mitt Romney, likely on Monday in South Carolina.

The decision came as a surprise to Huntsman's top adviser in New Hampshire, Peter Spaulding, who learned the news in a telephone call from a reporter. Huntsman had focused all of his resources on New Hampshire's Jan. 10 primary, but finished third.

"I expected him to do better, but you know, it is as it is. He's still a young man and has a lot of future ahead of him," Spaulding said. He said he had no regrets about working for a candidate no longer in contention. "I would do it again in a heartbeat."

A revised schedule was issued by Huntsman's campaign shortly before 1 a.m. Monday, cancelling two afternoon events and stating only that he would "deliver remarks" at the Myrtle Beach Convention Center at 11 a.m.

News of Huntsman's withdrawal came the same day as he received the endorsement of South Carolina's largest newspaper and less than a week before that's state's primary election on Jan. 21.

But his campaign was reportedly out of money, unable to buy television time or pay for direct mailings to reach voters in South Carolina, the first southern state on the primary calendar. 

Huntsman had poured at least $2 million of his own money into the race and his father, Jon Huntsman Sr., was a significant contributor to a so-called "super PAC" that funded much of the campaign's advertising.

He also trailed in the polls in South Carolina, a state seldom friendly to candidates who stray from strict conservative values. Religion, too, is a factor, with evangelical voters rejecting Mormons as fellow Christians.

From the start, Huntsman's campaign struggled to gain support. He didn't get into the race until last June, shortly after stepping down as the U.S. ambassador to China under President Barack Obama.

His campaign was widely viewed as having a better chance in 2016, because the 51-year-old didn't have the time to become well known nationally and was far behind other contenders in both organization and fundraising.