6:17 PM PT: Michele Bachmann falsely claims that the payroll tax cut in 2011 took over $100 billion out of the Social Security trust fund, out of the hands of seniors. She said the same thing about 2012. But the truth the tax cut is paid for out of general funds—not Social Security funds. Diane Sawyer fails to correct her, but helpfully notes that Mitt "Dreamy Eyes" Romney supports the payroll tax cut.
6:19 PM PT: Santorum repeats Bachmann's false claim that the payroll tax cut will take money out of the Social Security trust fund. (Repeat after me: it is paid for by the general fund! Too bad the moderators are either unaware of this fact or are unwilling to say it.)
6:22 PM PT: Mitt Romney says that unlike Newt Gingrich, he doesn't want to mine the moon, get rid of all capital gains taxes, or repeal any child labor laws. But the real difference, he says, is his personal background as a businessman. So I guess he's running as Gordon Gekko.
6:25 PM PT: Newt points out that if Romney had won in 1994, he'd have been a career politician too. Crowd boos him. He defends space exploration, but not the mining idea, and defends his idea of making poor kids work in schools, and the crowd erupts in applause. They love it. And he saves capital gains for last, slamming Romney for not wanting to eliminate capital gains taxes, and accusing Romney of running to Obama's left.
6:26 PM PT: Romney says "losing to Teddy Kennedy was probably the best thing I could have done for preparing me for the job I'm seeking." Of course, the job he's seeking is the GOP nomination...not president. And not being able to win in 1994 isn't something to brag about. Romney concludes by conceding that he actually agrees with Gingrich on the school work stuff.
6:28 PM PT: Ron Paul slams Newt Gingrich over Freddie Mac lobbying, albeit in a sort of meandering way. Gingrich says he was "in the private sector" on Freddie Mac, and the crowd laughs. He laughs too. I'm not sure if they were laughing with him...or at him.
6:29 PM PT (Kaili Joy Gray): The liveblogging continues in the next thread.