Iowa: Gingrich Collapses, Santorum Finds Life

New polls continue to show Newt Gingrich's campaign unraveling in Iowa. Mark Halperin says he needs a magic moment.

He needs to create a moment... like Hillary Clinton's moment when she teared up in New Hampshire... he's gonna have to find a way to have that or I do think he's in some trouble...

A CNN/Time/ORC International Poll Wednesday finds these results among Republicans who say they’re likely to participate in the Jan. 3 Iowa caucuses: Romney 25 percent, Ron Paul 22 percent, Rick Santorum 16 percent, Gingrich 14 percent, Rick Perry 11 percent, Michele Bachmann 9 percent, and Jon Huntsman 1 percent.