The results are in, Mike Huckabee is the winner for the Republicans, Barack Obama wins on the Democratic side. Obama has become the first African-American to win the Iowa Democratic caucus.

First, the report on Obama from Reuters:

DES MOINES, Iowa (Reuters) - Sen. Barack Obama won the Iowa Democratic caucus on Thursday, dealing a setback to national front-runner Hillary Clinton in the first nominating contest of the 2008 U.S. presidential election, NBC News reported.

The Iowa victory buoyed Obama, a first-term Illinois senator trying to become the first black U.S. president, and gave him momentum as he headed into the January 8 primary vote in New Hampshire, where polls showed him in a tight race with the former first lady.

The question is, will Hillary end in 2nd or 3rd? This will be a huge boon for the Obama campaign, huge boon. The ramifications for the upcoming primaries is big and gives a heavy blow to Hillary in my opinion.

Next, the story on Huckabee’s victory from Breitbart:

Former Arkansas Gov. Mike Huckabee won the Iowa caucuses Thursday in the first major test in the race for the Republican presidential nomination, U.S. media reported.

The Iowa caucuses and the New Hampshire primary next Tuesday are just the start of the nomination clashes but will provide an early picture of who will face off in the November presidential election.

Most polls had suggested a race too close to call on either side, with two Republicans — Huckabee and former Massachusetts Gov. Mitt Romney — and three Democrats — New York Sen. Hillary Clinton, Illinois Sen. Barack Obama and former vice presidential candidate John Edwards — in a dead heat.

Huckabee, who rode a surge in the polls, edged Romney, a Mormon, in a tight battle. Former New York Mayor Rudy Giuliani, who leads national polls in the Republican field, largely bypassed Iowa and is trailing Arizona Sen. John McCain and Romney in New Hampshire, and is focusing now on the Florida primary on Jan. 29.

This has got to be very disappointing for Romney who spent like $7 or $9 million, something like that compared to Huckabee’s almost nothing. I heard earlier that Romney spent about $250 per vote compared to Huckabee’s $50 per vote.

The bottom line is that Obama and Huckabee have run away with the spoon, slaughtering their respective competition.

I’ll update this later with the final counts but looks like they have both won by a good 5-10 percentage points. We’ll have more anlysis to come in as far as what this means for New Hampshire and other issues like whether Thompson will drop out due to his 3rd place finished of less than 15%.

Update by Angry:

Notice how in that media report Nate found that Romney is the ONLY one the author points out on his religion…… bah. Can we say biased liberal media?

Update by Nate

Fox News is reporting that Chris Dodd is dropping out of the race and ending his bid for the Democratic nomination. Will have more on that when it comes in.

Update by Angry: Notable Quotes from the Candidates after the results were announced:

Republican winner Huckabee :

the Iowa victory would “start a prairie fire of new hope and zeal.”

“I’m amazed but I’m encouraged because tonight what we have seen is a new day in American politics,” he said. “Tonight it starts here in Iowa, but it doesn’t end here. It goes all the way through the other states and ends at 1600 Pennsylvania Avenue.”

Democratic Winner Obama:

“They said our sights were set too high, they said this country was too divided, too disillusioned to ever come together around a common purpose, but on this January night, at this defining moment in history, you have done what the cynics said we couldn’t do,” Obama told an enthusiastic crowd of supporters. “We are choosing hope over fear, we’re choosing unity over division and sending a powerful message that change is coming to America.”

3rd Place Democratic Candidate Hillary Clinton as if she had just won:

Speaking to her supporters with husband Bill Clinton and daughter Chelsea by her side, Clinton congratulated Obama and said she was “ready for the rest of the campaign and so ready to lead.”

Earth to Hillary…..YOU LOST.

“Now, you know, we have always planned to run a national campaign all the way through the early contests, because I want the people of America, and particularly Democrats, and like-minded independents and Republicans who have seen the light to understand, number one, that the stakes are huge, that the job is enormous, but that I believe we’re going to make the right decision,” she said.

Hillary…you, ah forget it. As Nate so eloquently put it, in her mind she’s already inaugurated herself.

Update From Angry : Senator Biden to drop out and focus on his seat in the Senate.

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