The actual winner in the Iowa Republican caucuses was Ted Cruz with 28%. followed by Donald Trump with 24%.
But the real winner -- because he far exceeded expectations and came close to beating out Trump for second place -- was Marco Rubio with 23%. This is with 99% of precincts reporting. Nobody else came close: Carson with 12% and others in single digits. Jeb Bush languished at 3%.
So the GOP race is now effectively a three-man contest. As it solidifies Rubio as the establishment candidate and gives him momentum going forward.
Although Hillary Clinton gave what amounted to a victory speech, without actually saying she won, she and Bernie Sanders are in a virtual 50-50 tie at this point (12:45 am) with 98% of precincts reporting. The MSNBC analysts said this may have been a miscalculation in Clinton's data analysis room, since she seemed confident she had won at the point she gave her speech earlier. Bernie Sanders spoke later and said it looked like a virtual tie. If she doesn't, in fact, win when all the votes are counted, it's going to make Clinton look grasping at straws.
So the Democrats have a very active two-person contest.
Both Mike Huckabee and Martin O'Malley announced that they were dropping out of their races.
Second place for Donald Trump really made him the loser, because he under-performed. And Bernie Sanders is the psychological winner for the Democrats, whoever squeeks out the actual percentage win, because he more than met expectations.
Ralph
PS: It should be noted that Donald Trump made a concession speech that was, in the words of a Vox commenter: "shockingly classy." It was low key, congratulatory, and dignified without his usual braggadocio or petulance.
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