Gov. Rick Perry’s legendary winning streak came to its inglorious end Thursday. Standing in a plain conference room, the governor who had only ever known political victory admitted defeat.

When Gov. Rick Perry left the presidential campaign trail Thursday, he took his considerable fundraising muscle with him. His departure frees up his federal campaign coffers and the support of the Super PAC that backed Perry.

What's next for Rick Perry? He has nearly three years in his current term as governor. But he also trumpets a message of federalism that’s still relevant in national politics.

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