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

The Republican figure confirmed his long-awaited announcement on Wednesday in 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.'

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