Breaking News: Mitt Romney and Hillary Clinton Carry Momentum with Big Win in Nevada Caucus

With more than a third of precincts in the state of Nevada already reported, CNN and the Associated Press is reporting that Massachusetts Governor Mitt Romney will win the Nevada Caucus. By about 4pm on Saturday afternoon, Mitt Romney was ahead in Nevada with a comfortable 55% lead.

Senator John McCain and Congressman Ron Paul were in a close battle for second place, followed by Fred Thompson.

Governor Romney had figured to fare well in Nevada because of the importance of economic concerns for the people in Nevada. Romney's strongest issue is the economy and the self turned millionaire is certainly well versed in the economy. Nevada also has a huge Mormon population of 170,000 people of which a a majority voted for the Mormon Governor.

The race for the Democrats in Nevada was produced a surprising victory for Hillary Clinton who received 50% of the vote and was almost 1,000 votes ahead of Barack Obama. Obama was supposed to win the Nevada because due to the strong labor endorsement from the culinary workers which are the biggest union group of workers in Nevada.

In South Carolina, early polls had Governor Mike Huckabee slighlty ahead of the other Republican candidates. Governor Romney is not expected to do well in South Carolina. Senator Obama is also expected to do well in South Carolina Democratic primary due to the enormous black voter population.

The victory for Romney is the second straight, continuing his momentum after winning the Michigan primary over Senator John McCain. For Senator Hillary Clinton, this marks her second straight win after being victorious in the New Hampshire primary.