By Steven Moore
Rick Perrys money is reportedly drying up. But he is not dropping out of the race after briefly taking time to reassess his candidacy.
National conservative leaders are wondering who if anyone can stop Mitt Romney from walking off with the Republican nomination after his narrow win in Iowa and his expected

comfortable victory in New Hampshire next week. The name that keeps surfacing is Rick Perry which says a lot about the desperation that the anti-Romney forces are feeling now.
Mr. Perry despite an estimated $5 million-plus spent got buried in Iowa which he now calls a quirky place. His money is reportedly drying up. But he also confirmed on Wednesday that he is not dropping out of the race after briefly taking time to reassess his candidacy. He emailed supporters that the next leg of the marathon is the Palmetto State . . . Here we come South Carolina!!!
Mr. Perry is expected to roll the dice in South Carolina where he has already spent money on TV ads and ground operations. The Texas governor has regional connections and there is suspicion that Mr. Romneys Mormonism is still a problem in Southern states dominated by evangelical Christians. Perry insiders say that the plausible course forward for the candidate is to make this a one-on-one race with Mr. Romney so that the conservative vote doesnt split in two three or four ways.
South Carolina has a history of deciding the eventual GOP primary winner. If Mr. Perry can take first or second place he can live to fight another day and prepare for Super Tuesday when voters in the bulk of Southern states go to the polls. Perry supporters also say that a comeback depends on his ability to make this a North versus South race. They say that three-quarters of Republican voters arent sold on Mr. Romney. The problem for Mr. Perry of course is that even more voters arent sold on him either in part because he has done such a lousy job of educating voters about his admirable record on jobs and growth in Texas.
Many conservative leaders that I talked to after the Iowa caucuses are rallying around the latest flash Rick Santorum. But others have concluded that despite all of his debate mishaps and his poorly run campaign thus far Mr. Perry may be the only Republican candidate capable of beating Mr. Romney. As one campaign aide told me: We have to make a good second impression.