Richardson officially dropped his presidential bid Thursday. (Photo Credit: AP)
(CNN) - New Mexico Gov. Bill Richardson announced Thursday he is quitting the Democratic presidential race after fourth-place finishes in the first two contests of the 2008 election.
"Despite overwhelming financial and political odds, I am proud of the campaign we waged," he told cheering supporters in his state capital of Santa Fe.
Richardson, who served as energy secretary and ambassador to the United Nations in the Clinton administration, drew 5 percent of the vote in Tuesday's New Hampshire primary and 2 percent in last week's Iowa caucuses, far behind leading Democrats Hillary Clinton, Barack Obama and John Edwards.
In bowing out, he called the Democratic field "the most promising field in my lifetime" and predicted the party's eventual nominee will win the White House.
Related video: Richardson explains decision
From CNN Politics
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Bill Richardson for Secreatry of State
Hopefully John Edwards is close behind.
Na, na, na, na
Na, na, na, na
hey, hey, hey goodbye!
Here's hoping there will be spots in the cabinet for Richardson, Biden and Dodd – the most experienced candidates.
Richard, don't you remember the mess we created by backing flawed leaders? We backed the oppressive Iranian Shah and look what happened. We backed Saddam Hussein and look what happened. We backed the Afghan Majahedeen and look what they did. We're backing Musharaf and the Saudi royals. If they also fall at the hands of radicals, oil will soar and we will all pay the price. Let's stop betting on the wrong horses!
Mr. Richardson please run for Senate and don't take a VP spot, You will do more for country; if you are in the senate then being vice president.
Bill Richardson for VP!
I am a New Mexican and a Republican and I think the best candidate for both parties has just walked out the door. And I agree with Expat Teacher and Dean, the media decided way too early that Bill was a "second tier" candidate and they (the media) made an effort to convince people that the only two candidates for the Dems were Clinton and Obama. A real shame as we need someone on the White House with Bill's Foreign Policy experience.
I salute you Bill Richardson. You did your best.
Sorry folks, Bill Richardson is just a memory now as John McCain will be the 44th Prez. The Democratic Party is DEAD!
I AM VERY SAD TODAY AS THE EXPERIENCED CANDIDATES HAD TO LEAVE THE DEMOCRATIC PARTY. THE ONLY WAY I WILL VOTE FOR THIS PARTY IS WITH THE EDWARDS-RICHARDSON TEAM.. LILLIAN FROM ALBUQUERQUE
Kind of hate to see a Democrat with integrity leave the field of battle. He would certainly get my vote before most of the rabble from either party, let alone the idiot mayor of New Jork.
Bummer about Bill Richardson, he has a lot to offer! I hope he stays involved with national politics, I value his experience. We would all benefit if he becomes involved in the Clinton Administration.
So the candidate with easily the best resume and track record can't make it past the first primary – what does that say about our electoral process? What a loss for the country – and shame on the media for going after glamour rather than substance. Perhaps Richardson's TV ad is correct – maybe he is overqualified to be President. Thanks for trying, Bill. You had my vote.