Bachmann gives up bid for presidency after last-place finish

Wednesday, January 4, 2012 - 12:50pm

The Iowa caucuses ended in dramatic fashion last night, with only eight votes separating the first and second-place finishers.

In a way Mitt Romney and Rick Santorum were both winners.

Romney edged Santorum by just eight votes to win the caucuses, a tiny margin but a big victory for two Republicans who once seemed unlikely to come out on top.

"I've got a big target on me now. The Democratic National Committee, the president, the White House, the other contenders for the race are coming after me in a big way," Romney said.

Romney goes into next week's New Hampshire primary with the home-state advantage and a strong lead in the polls.

Santorum's momentum gives him an edge with values voters who want a Romney alternative.

After finishing sixth in her home state, Michele Bachmann decided to drop out.

"Last night the people of Iowa spoke with a clear voice, so I have decided to stand aside," she said.

The latest polls show Mitt Romney is all but unbeatable in New Hampshire, yet he's still having problems connecting with Republican voters elsewhere.

Both Newt Gingrich and Rick Perry say they're now focusing on South Carolina's January 21st primary.

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