"To me, if someone like Mike Bloomberg is looking to make a third party race, that could open it up for him. Which could end up, give the election to Obama. Or maybe elect Mike, I don't know. But as a practical matter, if there is going to be a third-party candidate, there's much more of a chance for that if it's Gingrich, rather than Romney."
"It's only a matter of time before Newt—not implodes, because Newt is quick enough to always recover—but there's always damage done," he said. "He will say something or do something which will hurt himself and the party. Then, he's smart enough to bounce back but you never bounce back all the way. And by the time the campaign is over, you've damaged yourself too much, which is what happened when he was speaker. He won back the House for Republicans and within four years he had to step down."
King said recent comments where Gingrich attacked Congressman Paul Ryan over his budget strategy was a typical example of Gingrich overreach.
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On "Meet the Press" Gingrich described Paul Ryan's budget proposal,as "right-wing social engineering."
"If we do have an intellectual in the party right now, it's Paul Ryan, and whether you agree with what he's saying on Medicare—all or part of it, and any Republicans should at least agree with most of it—and if you're going to disagree, you do it in a respectful way," King said. "The guy has put his political career on the line for this and he's put a lot of effort into it and to just dismiss it in the cavalier way that Newt did—if anyone had done that to Newt, he would have been offended forever.
"And I would say Ryan has real intellectual substance, unlike Newt who is sort of superficial on a lot of stuff. You can mention so many books you've read and all that. But any guy who talks about it that much isn't usually as smart as he says he is."