Here's the full statement from Ron Paul, so you can judge for yourself:
“As I reflect on our 2012 Presidential campaign, I am humbled by the supporters who have worked so hard and sacrificed so much. And I am so proud of what we have accomplished. We will not stop until we have restored what once made America the greatest country in human history.
“This campaign fought hard and won electoral success that the talking heads and pundits never thought possible. But, this campaign is also about more than just the 2012 election. It has been part of a quest I began 40 years ago and that so many have joined. It is about the campaign for Liberty, which has taken a tremendous leap forward in this election and will continue to grow stronger in the future until we finally win.
“Our campaign will continue to work in the state convention process. We will continue to take leadership positions, win delegates, and carry a strong message to the Republican National Convention that Liberty is the way of the future.
“Moving forward, however, we will no longer spend resources campaigning in primaries in states that have not yet voted. Doing so with any hope of success would take many tens of millions of dollars we simply do not have. I encourage all supporters of Liberty to make sure you get to the polls and make your voices heard, particularly in the local, state, and Congressional elections, where so many defenders of Freedom are fighting and need your support.
“I hope all supporters of Liberty will remain deeply involved – become delegates, win office, and take leadership positions. I will be right there with you. In the coming days, my campaign leadership will lay out to you our delegate strategy and what you can do to help, so please stay tuned.
Of course, towards the very end, the national media had virtually ignored Dr. Paul's campaign, effectively self-coronating Mitt Romney, and in those stories published about the campaign, sought to marginalize Dr. Paul's supporters by using emotionally-charged syntax designed to represent them unfavorably.
Nevertheless, the effects of Ron Paul's campaign will be felt for the foreseeable future. Not only did his campaign spur the influx of young people into the Republican Party, but here in Alaska, the success of Ron Paul activists, ably assisted by former U.S. Senate candidate Joe Miller, persuaded longtime Republican apparatchik Randy Ruedrich not to seek another term as State Republican Party Chairman.
Reaction: On the Daily Paul, 268 people have posted comments so far, and most seem to be taking the decision relatively well, recognizing that the deck had been stacked against Dr. Paul. Many focused on the correlative effects; Sailette44 wrote, "He's a very seasoned and shrewd campaigner and visionary. Helping the delegate process and taking over every state's GOP leadership is much bigger and more far-sighted than POTUS. POTUS would be the icing on the cake, and we may very well provide him that title after all". But some want to continue actively taking Ron Paul's message to the people.
After all, the fact that Ron Paul may be suspending his campaign does not preclude the possibility that Mitt Romney could choose him to be his running mate.