My Post column this morning gives a breakdown of Iowa:

IOWA is one strange bag of corn. First off, only one candidate has ever won the Iowa caucus and gone on to win the presidency in the same year: George W. Bush. Second: Various candidates who don’t win the caucus are liable to find reason for cheer. On the GOP side last night, while Mike Huckabee certainly has plenty to celebrate, they were also cheering over at John McCain and Rudy Giuliani headquarters. This is a three-man race now - and a two-man race to see who will stop Huck.

From there, I go candidate by candidate.

A few points, though, that I didn’t have space to make:

* What a refutation of the McCain-Feingold-Media theory of American democracy — that it’s all about the money. Romney proved you can’t buy elections in America. It’s been proven a thousand times before, of course, but here’s a great reminder. What irony that Huckabee’s penniless victory will do so much to benefit Mr. Maverick.

* On Ron Paul: With 10% of the vote, a higher place than Rudy Giuliani in the Hawkeye State, and lots of cash in the bank, what possible criteria can justify excluding him from future debates? None, I’d say. Let the man in.

* Of course: Barack Obama winning is huge, not just for this primary, but for America. It’s been said before, but having a black candidate who’s not just “the black candidate” is an amazing moment in American history. For it to break out in rural, lily-white Iowa is all the more amazing. I confess I’m rooting for Obama to win the primary. As a registered Democrat, I expect to vote for him February 5. Honestly, his rhetoric is much better than his policy. But given the alternative of restoring the Clinton dynasty or — retch — voting for John Edwards, I’ll pick the hopemonger.

* Lastly, another big loser last night: Michael Bloomberg. Mitt Romney and Mike Huckabee are the candidates who would create room for a Bloomy run on the Right. Clinton and Edwards are the ones who would create that space for him on the Left. Two of those four candidacies died last night: Edwards and Romney. Huckabee is essentially implausible as the nominee in the GOP. Clinton is in trouble. I actually don’t believe there’s space in the race for Bloomy no matter what (I get tired of saying it, but the third-party space in America exists in the Dobbs-Buchanan center, not in the Bloomy-centrist-journalist center), but a run just got a lot less likely.