(Bachmann: Jim Young/Reuters, Perry: Brian Snyder/Reuters)
If it weren't for Michele Bachmann and Rick Perry running in Iowa, Mitt Romney's eight point "victory" over Rick Santorum would have been a double-digit defeat, so he can't be happy to learn that both candidates are apparently planning to end their bids. Last night, Perry
announced he wouldn't be heading to South Carolina and would instead reassess his campaign at home in Texas. And today at 10AM CT, Michele Bachmann plans a press conference to discuss her plans going forward. A big hint: she's also
canceled her upcoming South Carolina trip.
As Maggie Haberman speculates, Bachmann (assuming she's quitting) might endorse Romney, but if she does, it would be a fairly transparent play on her part to win favor with an establishment Republican and I doubt her endorsement would provide Romney with much of a boost. Whatever she does, Perry had more support than Bachmann, and it's very hard imagining him rushing to endorse Romney.
Assuming we end up with a five-candidate field going forward (Newt Gingrich, John Huntsman, Ron Paul, Mitt Romney, and Rick Santorum), it's probably a mixed blessing for Mitt Romney. On the one hand, to win the nomination, you need the other candidates to drop out or be defeated. On the other hand, Romney's path to the nomination is dependent on a divide-and-conquer strategy ... and that's harder to pull off with a smaller field, especially if Newt Gingrich decides to go on a suicide revenge mission against Romney.
7:29 AM PT: National Journal says Bachmann will bow out.