After a scan of all the news networks, with 25% of precincts reporting, MSNBC, CNN and FOXNews are projecting Mike Huckabee the winner of the Republican Iowa caucus. MSNBC is reporting that just 8% of Huckabee voters say they voted for him because he's likely to win. Poor Rudy, he didn't even get an "also appeared." Mitt Romney is the big loser here, he spent mountains of money and time in Iowa. (h/t billw)
UPDATE: Obama is the projected winner in Iowa!
UPDATE: Mike Allen of the Politico just said on FOX that Thompson is dead broke and a loser and John McCain is a BIG, BIG WINNER! The Villagers need their hero.