Mitt Romney, Rick Santorum and Ron Paul were the big winners Tuesday night in the Iowa caucuses. They finished first, second and third respectively. Romney won by the narrowest of margins — eight votes.

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About 200 miles from Des Moines, the Republican chair of Clinton County was fast asleep as state officials waited for the final votes in the caucuses. As it turns out, the final votes were needed from the second ward, second precinct, the 2-2 in Clinton County.

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Former Massachusetts Governor Mitt Romney has been considered a front-runner in this race since before the campaign began. Yet, at the end of voting yesterday, he did no better than he had four years earlier.

NPR's Ari Shapiro was at Romney campaign headquarters in Des Moines, and walks us through that tense and dramatic evening.

In recent weeks a lot of polls and pundits said the Iowa caucuses might be too close to call. But nobody imagined just how close things would turn out Tuesday night in the first voting of the 2012 presidential nominating season. Mitt Romney was declared the winner by just eight votes. Former Pennsylvania Senator Rick Santorum came in second.

Linda Wertheimer has the Last Word in business.

Steve Inskeep has business news.

At Ron Paul's caucus night event in Ankeny, Iowa, most of his supporters were celebrating. Paul finished a strong third in Tuesday night's caucuses.

But one man in the crowd — famed Republican strategist Frank Luntz — was much more concerned with what happens next.

"I think over the next 24 to 48 hours the campaign's gonna get a little bit meaner, a little darker, and a little bit more personal, as the candidates now fight for their life," said Luntz, who spoke with NPR in between television appearances Tuesday night.

It's on to New Hampshire for at least some of the Republican presidential candidates, and The Associated Press reports that Newt Gingrich will take out a full-page ad in the New Hampshire Union Leader Wednesday contrasting himself as a "bold Reagan conservative" against Mitt Romney, who he labels a "timid Massachusetts moderate."

Texas Gov. Rick Perry said he will return to his home state and "assess the results" of Tuesday's Iowa caucuses, after getting just 10 percent of the vote.

"With the voters' decision tonight in Iowa, I decided to return to Texas, assess the results of tonight's caucus, determine whether there is a path forward for myself in this race," Perry said.

He was originally scheduled to campaign in South Carolina on Wednesday, but those plans were put on hold after his distant fifth-place finish.

The Associated Press adds: