The US and Iowa state flags fly at a rally with Republican presidential candidate and former Massachusetts Governor Mitt Romney in West Des Moines, Iowa December 30, 2011, ahead of the Iowa caucus on January 3, 2012. Brian Snyder/Reuters
In a Dec. 31, 2011 file photo, former Pennsylvania Sen. Rick Santorum (l.) speaks during a campaign appearance in Knoxville, Iowa. In a Jan. 2, 2012 photo, former Massachusetts Gov. Mitt Romney speaks during a campaign stop in Clive, Iowa. Santorum and Romney from different wings of the Republican party were locked in a near-tie: each had 24.5 percent. Only 8 votes separated the two in Iowa's presidential caucuses. Chis Carlson/AP/File (l.), Charlie Riedel/AP/File
Supporters of Democratic presidential candidate Sen. Barack Obama listen to his speech during a campaign stop at Roosevelt High School in Des Moines, Iowa January 1, 2008. Obama won the Iowa democratic presidential caucus on January 3, 2008. Andy Nelson/The Christian Science Monitor
Former Arkansas Gov. Mike Huckabee is joined by his wife Janet as he addresses a victory party in Des Moines, Iowa, after being declared the winner of the Iowa caucus on Jan. 3, 2008. Sen. John McCain, who won the party nomination, ended up fourth. The Iowa caucuses draw outsized attention from politicians and the news media because they are first and can put a symbolic political wind behind the sails of the top finishers, making them more attractive not only to voters but also to donors who finance campaigns. Paul Sancya/AP
Sen. John Kerry, D-Mass., runs onstage to speak at a rally in Cedar Rapids, Iowa, July 4, 2004. Kerry won the Iowa democratic presidential caucus in 2004. Gerald Herbert/AP
President Bush shakes hands with supporters as he is introduced at a campaign rally at LeClaire Park Bandshell in Davenport, Iowa, Aug. 4, 2004. Bush ran unopposed in the 2004 caucuses. Pablo Martinez Monsivais/AP
Democratic presidential candidate US Vice President Al Gore and Iowa Sen. Tom Harkin celebrate Gore's victory in the Iowa Caucus at the state fairgrounds in Des Moines January 24, 2000. Tom Harkin won the Iowa democratic presidential caucus in 1992. Reuters
Republican presidential candidate Texas Gov. George W. Bush interrupts the lunch of Ruth Debbe to greet her while her husband Jerald, (R.), looks on during a campaign stop at the Cunningham Drug lunch counter in Grinnell, Iowa, Jan. 21, 2000. Bush won his party's nomination in the 2000 Iowa Presidential Caucus. Eric Draper/AP
Former President Bill Clinton speaks to Democrats at the Jefferson-Jackson Day dinner, Oct. 14, 2006, in Des Moines, Iowa. Clinton ran unopposed in the 1996 Iowa caucuses. Steve Pope/AP
Senator Bob Dole and his wife Elizabeth wave to the crowd gathered to celebrate Dole's victory in the Iowa caucuses, February 12, 1996. Jim Bourg/Reuters
George Bush acknowledges cheers at the Republican caucus headquarters, in Des Moines, Iowa, on January 22, 1989. Bush took a lead over front-runner Ronald Reagan and seven other candidates for the Republican presidential nomination, in the Iowa Republican straw-poll caucus. George H.W. Bush ran unopposed in the 1992 Iowa caucuses, lost to Bob Dole in 1988 and beat Reagan in 1980. Jim Mone/AP
Rep. Richard Gephardt meets with Hamilton County Democrats at the Webster City, Iowa Senior Center October 28, 2003. Gephardt won the Iowa democratic presidential caucus in 1988. Andy Nelson/The Christian Science Monitor
Walter Mondale, (C.), hits the rural campaign trail in his quest for the Democratic presidential nomination, chatting with farmer Jim Nelson, (L.), and members of his family at a luncheon at the Nelson home, Jan. 19, 1984, Bouton, Iowa. The down-home meal was part of Mondales preparations for caucus night in Iowa, which Mondale went on to win. AP
President Ronald Reagan addresses the GOP Caucus Kickoff in Des Moines, Feb. 20, 1984. Reagan ran unopposed in the 1984 Iowa Republican caucus voting. Dennis Cook/AP
Rick Santorum nearly tied with Mitt Romney in the Iowa caucus, Tuesday, but can Santorum compete with Romney without a massive budget? The latest figures showed Santorum had less than $200,000 in his campaign account while Romney had $14.7 million.
Rick Santorum looked Wednesday to establish himself as the top conservative alternative to Mitt Romney, one day after jolting the Republican presidential race by coming within eight votes of winning the Iowa caucuses.