Gov. Mitt Romney has officially dropped out of the presidential race as of Thursday afternoon, narrowing the race for the republican nomination to three: Sen. John McCain, Gov. Mike Huckabee and Rep. Ron Paul.

Romney announced his decision at the end of his address at the annual Conservative Political Action Conference, which was held today in Washington D.C.

The Massachussets governor was in control of 286 delegates, good enough for second in the race for the Republican nomination.

The main reason he cited for dropping out is that he did not want the republican votes to be further split. He felt his presence in the remainder of the primary elections would ultimately help Senators Barack Obama and Hillary Clinton gain traction in the general election this fall.

In this time of war, I simply cannot let my campaign be a part of aiding a surrender to terror. This is not an easy decision. I hate to lose.
Gov. Mitt Romney 

"This is not an easy decision for me. I hate to lose. My family, my friends and our supporters – many of you right here in this room – have given a great deal to get me where I have a shot at becoming President," Romney said to the crowd of supporters.

"If this were only about me, I would go on. But I entered this race because I love America, and because I love America, I feel I must now stand aside, for our party and for our country," he continued.

With Romney now out of the picture, Sen. McCain is all but guaranteed the nomination, as he currently holds 533 more delegates than Huckabee.

It is widely rumored that Romney is attempting to position himself for a cabinet position or a place on the ticket with McCain as vice-president.

Time will tell the true reasons for his withdrawal, however, Republicans will continue primary voting on Feb. 9th when Kansas, Louisiana and Washington voters will make their voices heard.