Iowa Caucus: What Is It Good For?

One primary down, fifty-some to go. (Territories get delegates too, although not many on the GOP side of things.) Michelle Bachmann (sixth place) has quit the race, Rick Perry (fifth place) did some soul searching before deciding to carry on, skepticism about New Gingrich (fourth place) is growing, while Ron Paul (third), Rick Santorum (second) and Mitt Romney (first) are all media darlings for the day. And all because 120,000 Republicans took the first steps towards selecting 25...