Iowa Caucus Results: Romney vs. Santorum

GOP frontrunner Mitt Romney faces his new challenger for the nomination.
5:27 | 01/04/12

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Transcript for Iowa Caucus Results: Romney vs. Santorum
And harm clearly plants to be the scrappy every man taking on the Goliath. So what is the reaction in the Romney camp today ABC anchor David Muir is out of the cold New Hampshire weather tonight and he was -- from -- that they Davis. Diane no question Rick Santorum is the latest to take on Mitt Romney we -- -- -- New Hampshire with Romney today. He's fueled by that slim win in Iowa he's also fuel tonight by that one -- political -- -- -- Flying from I would in New Hampshire to -- beat Romney huddled up front with his wife van after winning what he called a squeaker in Iowa. -- it is chief strategist telling this eight is enough to declare victory winning by just a few votes a two night rob he faces a brand new Plainfield. It's now Rick santorum's turned in that role is to bomb the alternative. -- today here in New Hampshire Romney's own backyard in endorsement. And famously -- -- four years ago. In awkward pairing on stage but -- political one we forgot to congratulate him on his landslide victory last night they got. That near tie in Iowa now leading to questions about how Romney closes the deal. People who's who consider themselves true conservatives who last night overwhelmingly -- -- Rick -- was it was a candidate with very little money you know pick -- -- -- why not a more decisive victory for -- Or I think we've looked at the situation just a few weeks ago no one expected Romney -- Coming in anywhere near -- -- spent a lot more money and have help from the super -- and here you have Santorum right around that truck. Believe that there's no doubt about that it was a I think -- significant chilling but the bottom line says Romney won it. -- arguing for the man he notoriously -- after just four years ago. Remember years -- four years ago at the debate came after Romney called himself the candidate of change for instance this way governor Romney. We disagree on a lot of issues but I -- you are the candidate of change. This is about his -- -- in mind and it was a line we remember that I'm curious why you changed your mind for years later. Oracle today after the campaign Zulu we got together and he's got together you don't have concerns -- is evolving views and own more -- -- Senator McCain telling me today that even among those social conservatives are gonna try to court that he believes jobs -- the economy is still the number one issue. Which is why he's endorsing Mitt Romney says he's the man to turn this economy around. -- traveling to South Carolina tomorrow to try to court some of those conservatives and Diane will be there every step of the way. And the race is changing moment by moment thank you David and as we mentioned. Last night Michelle Bachmann did put on a brave face asking her -- -- dance with her as the disappointing results came and she was finishing behind but. In the cold hard reality of the morning she walked up -- -- and ended her quest for the nomination here's what she said. I look forward to the next chapter in God's plan he has one for each of us you now. It we will only cooperate with him he has always had something greater -- the corner far beyond what any of us have ever thought her mansion. It is time now to bring in my co anchor from last night and Good Morning America anchor George Stephanopoulos. It is the big picture of what happened my big. Pictures that Mitt Romney is much -- for the nomination today -- he was yesterday that he was 24 hours ago. Eight votes does matter there's a big difference between winning by eight and losing -- but here's a number from last night's entrance poll which shows the dilemma. That Romney faces look at these very conservative voters almost half the voters in Iowa Rick Santorum trounced him. 35 to 14%. Here's the dilemma Romney has to figure out a way to get those conservative lawyers more those conservative voters to his side without driving off. The moderate and independent voters he would need to defeat Barack Obama in the fall that it's -- tricky tightrope walk over the next several weeks and months. And what does it mean that governor Rick Perry decided to stay in the day after sit in Detroit with -- out of of course Michelle Obama Bachmann did drop. Probably the best single thing that happened Mitt Romney today even more important I think in the John McCain endorsement because I'm Rick Perry staying in especially in South Carolina. In the use of that conservative vote is now going to be divided among three candidates Newt Gingrich Rick Santorum and of course Rick Perry so that gives it that. -- -- prevents Rick Santorum from really capitalizing. At least so far on his -- last thing has to -- good showing last night. And I want to show everybody something you and I talked about a lot of courses Iowa campaign. How Iowa and of course always are. Teaching us what it is to have kitchen table democracy. There they were collecting votes and -- them. All -- and there you see them they just mark. And then -- and talk about low tech the final votes came in last night after heated -- The Clinton county Republican Sharon was woken up in the middle of the night. In her bedroom by her neighbor knocking on her window somehow the votes didn't get called -- she never fallen veterans and let -- go and get finally called and -- Mitt -- victory. Gotta love thanks so much -- and -- -- and I've been saying it could all change again on Saturday when the Republicans face off in the next debated that the next. -- battleground in New Hampshire. And George and I will be moderating at 9 PM eastern 6 Pacific and we sure hope you will be joining us up.

This transcript has been automatically generated and may not be 100% accurate.

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