Liveblogging the South Carolina results

2:23 / 8:23 — Ron Paul: "We are the next generation and we're suffering the consequences." One wonders if Paul means 'we' or 'you'. "We need to restore the constitution and restore liberty."

2:16 / 8:16 — Ron Paul is now speaking. I still think he's the least insane — thus he's, it would seem, completely unelectable. Talks of continuing unperturbed and the importance of the libertarian message. "We can't depend on the governments to promote and believe that we can police the world...we're all going broke." He makes the case convincingly, but that doesn't mean we're convinced. It's encouraging, though, that's he seems wholly genuine about the cause and his reason for running.

2:12 / 8:12 — Sullivan breaks down Romney's speech:

Romney's speech is a little hackneyed, but focuses in the end on Gingrich, someone "who hasn't run a business or run a government." He attacks Gingrich for "picking up the weapons of the left" today. He is sticking to his defense of Bain Capital as indistinguishable from capitalism itself. That argument didn't work in South Carolina, and it remains weak, weak, weak. Romney also warns he will compete in every single state, including Virginia, where Newt didn't qualify. He speaks of a primary campaign that could last months.

Fox News has that dunce Huckabee talking about the night's events, who described having to emerge after a loss and give a speech as though you won is the 'hardest thing in the world' to do. CNN is discussing speculation that Romney has just snagged the Jeb Bush endorsement. No one's really coming to any conclusions.

2:03 / 8:03 — Mitt Romney's speech focuses mostly on Obama. "The president has adopted an appeasement strategy; he believes that America's role as leader of the world is a thing of the past. I believe in a strong America...leader of the free world...President Obama has never run a business and never run a state...divided the nation...we cannot defeat that president with a candidate who has launched an assault on free enterprise." I'm so surprised: Republicans usually hate rhetoricians and circumlocution.

1:53 / 7:53 — Santorum spoke to CNN just moments ago, said that the GOP needs someone who can make the race about Barack Obama. It seems Romney has been doing this for some time now. After these results, that shift of focus might strike some as a little premature.

1:48 / 7:48 — FiveThirtyEight writes that Romney will need more than moderates to win Florida:

Although Florida has a more moderate Republican electorate than South Carolina, that difference alone would not be enough to hand a victory to Mr. Romney there. According to tonight's exit poll from South Carolina, 37 percent of voters describe themselves as very conservative, 32 percent as somewhat conservative and 32 percent as moderate or liberal. By contrast, in Florida in 2008, 27 percent of voters said they were very conservative, 34 percent somewhat conservative and 38 percent moderate or liberal.

Read on here.

1:43 / 7:43 — Nate Silver urges caution: "Just my opinion -- but I don't see why there's a rush to call South Carolina. Early exits have been off by double-digits before." Perhaps we ought to be a little more...conservative in our projections.

1:37 / 7:37 — The Associated Press has called South Carolina for Gingrich, the networks are standing beside their initial projections.

1:23 / 7:23 — I've only just checked in on the latest news out of South Carolina. This is looking to be an interesting night so far, particularly for Newt Gingrich. The most intriguing question at this point appears to be whether a Gingrich victory in the state will change things to any pivotal degree. At the moment, I'm watching CNN and checking in on the blogosphere. More to come, no doubt...

(Image via the Wall Street Journal)