Former North Carolina Sen. John Edwards' bid for the White House hung in the balance Thursday as he appeared headed for defeat in the crucial Iowa caucuses.
While final totals were not in, The Associated Press and major television networks projected that Illinois Sen. Barack Obama would win the Democratic caucuses in Iowa. Edwards and New York Sen. Hillary Clinton were in a tight race to finish second, Jim Morrill and Rob Christensen report.
No candidate had more at stake in Iowa than Edwards, who placed a huge stack of his political chips on the Iowa caucuses.
Edwards now faces the daunting task of regrouping in two states where polls suggest he is starting way behind — New Hampshire and South Carolina. And Edwards must do it without having the deep financial pockets of Obama and Clinton.
Edwards supporters gathered Thursday night in two ballrooms at the Renaissance Savery Hotel in downtown Des Moines, where they cheered when early returns showed Edwards leading. The rooms turned quiet, though, when CNN projected that Obama would win in Iowa.
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