With the air going out of the Newtster’s balloon—not surprisingly, as everyone who has ever worked with him (possibly, everyone who has ever met him) has declared him too unstable and egomaniacal to win—the latest smart-money bet in Iowa is Ron Paul, whose libertarian delusions render him unelectable as well. Mitt Romney, having entered that phase of the campaign where he has to campaign among actual people, is trending downward, too. That leaves Jon Huntsman, who can take votes from Romney but not likely from anyone else, and Rick Perry, who can still boast of impressive credentials but who’s still saddled with an unimpressive brain.

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