A super PAC supporting Mitt Romney has unleashed this ad against Newt Gingrich in Iowa. The focus on Newt’s “baggage” seems to be resonating.

Meanwhile, the PPP poll now has Gingrich in a free fall in Iowa, as he has slipped to third place.

Newt Gingrich’s campaign is rapidly imploding, and Ron Paul has now taken the lead in Iowa. He’s at 23% to 20% for Mitt Romney, 14% for Gingrich, 10% each for Rick Santorum, Michele Bachmann, and Rick Perry, 4% for Jon Huntsman, and 2% for Gary Johnson.

Gingrich won’t even spend time in Iowa, so I can’t imagine how he’s going to hold on against candidates who are betting their campaigns on the caucuses.

If this trend continues, you’ll see Santorum, Perry or Bachmann possibly get into the top three, so this race is still very fluid. Romney benefits from having the anti-Romney vote split up. The Iowa vote often breaks late, so anything can happen here.