Iowa Caucus Results: Romney Edges Santorum by 8 Votes

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"This has been a failed presidency," Romney said at an event in Des Moines. "I will go to work to get Americans back to work."

View the real-time results here.

Santorum's unexpected surge in the polls just days before the Iowa caucus helped jolt new life into the former senator's presidential campaign. Just a few weeks ago, Santorum's events were filled with empty seats. This week, his events went over capacity. The former congressman watched the returns with his family at a hotel in Johnston, as his campaign expressed cautious optimism.

Santorum's fundraising has tripled in the last week, his campaign manager Mike Biundo told reporters, and they are now running ads in New Hampshire and South Carolina. Biundo said they will be hiring more staff.

"We are going to hire more people, but we are not going to spend millions and millions of dollars like these other campaigns. We feel that we can do it a little bit different. We can do a lot of grassroots because we have the support out there, but we will be expanding our staff," Biundo said.

"This is the first step, this is the first step," Santorum told ABC News after his last Iowa campaign stop in Urbandale. "A win here is a start, but it's a start. It's not the culmination, it's a start. It's not the culmination, it's the beginning."

Other candidates haven't fared so well. Bachmann set the record for the largest fall in popularity in Iowa history, from winning the straw poll to losing the caucuses. Bachmann won the Iowa straw poll in August with 28.6 percent of the vote. Tonight she won only 5 percent.

Huntsman, who was notably absent in Iowa, focused all his efforts in New Hampshire, as did Gingrich, who slid sharply in the polls after the Romney campaign pounced on him with negative ads.

ABC News' Jake Tapper, Gary Langer, Elicia Dover, Amy Bingham, Elizabeth Hartfield, Jason Volack and Matt Negrin contributed to this report.

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