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When it comes to close political races, the recent Gold Standard in the U.S. is the 2000 presidential vote in Florida.

So we were wondering how last night's result in the Iowa Republican presidential caucuses compares to that famous hanging-chad contest between George W. Bush and Al Gore.

Let's walk through the math:

The American political system — as corny, eclectic, chaotic and screwed up as it is with its straw polls, caucuses, primaries and contested elections — somehow gets the job done time after time.

It's weird, really: In this country that celebrates unity and national spirit, a president is chosen via quirky, jerky state-by-state (sometimes precinct-by-precinct) methods. In this society that seeks perfection, the leader is selected in a painfully imperfect process.

But, to paraphrase the old saw: Our funky form of democracy may just be the least worst way to govern.

A Catholic bishop in California has resigned his post after revealing in December that he has two children.

"The Vatican announced the bishop's resignation Jan. 4 in a one-line statement that cited church law on resignation for illness or other serious reasons," reports the Catholic News Service from Vatican City.

Pope Benedict reportedly accepted the resignation of Gabino Zavala, an auxiliary bishop for the San Gabriel Pastoral Region, in December.

If a heart attack sends you to an American hospital, you'll probably go home after only two or three nights. That's faster than virtually anyplace else in the world.

But your chances of needing to go back into the hospital within the next month are also higher than they are for heart attack patients in 16 other countries. That's the finding from a Duke University-led study in this week's JAMA, the Journal of the American Medical Association.

If the grocery bill hurts more now than it used to, you're not alone. The cost of staples like ground beef, chicken, eggs and potatoes has spiked over 10 percent in the past year, three times the cost of inflation overall.

Ironically, if you were trying to be thrifty by eating at home instead of eating out, you probably felt it most.

Last year was a very good year for the German automaker Volkswagen, but 2012 could be even better.

Sales for Volkswagen Group's brands — including Audi, Bentley and Lamborghini — increased by 20 percent in the U.S. last year. For the Volkswagen brand itself, sales rose 26.3 percent. And if things continue to go Volkswagen's way, it could become the No. 1 carmaker in the world.

Minnesota Rep. Michele Bachmann announced Wednesday that she is suspending her campaign for the Republican presidential nomination. The conservative provocateur finished a disappointing sixth in Tuesday's caucuses in Iowa, with just 5 percent of the vote.

"Last night the people of Iowa spoke with a very clear voice," Bachmann said at a mid-morning news conference in West Des Moines. "So I have decided to stand aside."

President Obama will use what's known as a recess appointment to name Richard Cordray the head of the country's new consumer watchdog agency.

Iowa proved a road to victory for Mitt Romney, but it was a road to nowhere for Michele Bachmann.

"Last night, the people of Iowa spoke with a very clear voice, and so I have decided to stand aside," Bachmann said Wednesday at a West Des Moines news conference. The Minnesota congresswoman decided to end her 2012 presidential bid after finishing sixth in Tuesday's caucuses in Iowa — the state where she was born and where, just five months ago, she won a Republican straw poll in Ames.

The photo finish in Iowa — officially, Mitt Romney bested Rick Santorum by only eight votes — has catapulted Santorum into the front ranks of Republican presidential hopefuls.

"This is huge news for Santorum," says Charlie Arlinghaus, who directs a conservative think tank in New Hampshire. "I don't think there's a way to spin the results without saying he's the big winner tonight."

To welcome the Year of the Dragon, China's postal service plans to release commemorative postage stamps featuring the fabled beast. But many customers are finding the image to be a little over the top.

Here are some reactions cited by China's Xinhua news agency:

When it comes to keeping off fat, protein sounds to some like a magic bullet.

For decades, people have been making the case that eating a lot more of it, as in the Atkins diet, or lots less of it, will change the body's metabolism, spurring weight loss.

But alas, it ain't so easy.

Year over year, the number of Spanish-speaking kindergarteners at Vardaman Elementary School in northeast Mississippi has been on the rise.

Census numbers show the South has the fastest-growing Hispanic population in the country. Now, Vardaman Elementary is about to become Mississippi's first predominantly Latino primary school, and that's posing special challenges when it comes to finding teachers who can help Spanish-speaking students adapt to the American classroom.

Vardaman Takes Its Own Approach

Update at 11:29 p.m. ET. 'People Of Iowa Spoke':

Saying "the people of Iowa spoke with a very clear voice," Michele Bachmann announced she was ending her bid to become the Republican nominee for president.

Bachmann started her announcement with a litany of grievances against President Obama. She said she was inspired to run for president the day Obama passed his healthcare reform.

She knew, she said, that "Obamacare endangered the very survival of the United States of America."

We've been helping our friends at It's All Politics on the big story of the morning, which, as you've no doubt heard, is that after a nail-biter of a night, Mitt Romney took the Iowa primary by eight votes. Rick Santorum pulled a surprising turn around to end up second.

Here's some of the territory we've covered on IAP:

At the start of his show yesterday morning, MSNBC's Chuck Todd could not contain his glee: "It's caucus day. Finally! I've been waiting for this day for 3 1/2 years."

Speak for yourself, Chuck.

In the build-up to the Iowa caucuses, we heard about the ground game, the expectations game, the endorsement game, and the super PACs. And we get the justification: It's blood sport, it's a vetting process, it's a surge, it's a generous slathering of awesome on an Iowa corn dog.

Rick Santorum's stunning finish in Iowa's Republican presidential caucuses Tuesday breathed life into his dogged campaign and had his New Hampshire supporters dreaming of a top-three spot for him in next week's Granite State primary.

But the path to a good finish in New Hampshire is not an easy one. Santorum's evangelical bona fides are bound to matter much less than in Iowa. And Mitt Romney, the former governor of neighboring Massachusetts, has consistently held wide leads in preference polls.

You might think that after a spectacular night of political drama, one in which Mitt Romney eked out an eight-vote victory over Rick Santorum in Iowa, we might have a little more to tell you than the GOP field is just as unsettled as it was before the caucuses.

There are a lot of photo apps out there for the iPhone. With most of them, you take a picture, put a filter on it and maybe add some lens blur. But many of them don't have a built-in way for you to share the photo.

"When we combined those two key ingredients, we came up with something that became Instagram," says Instagram CEO Kevin Systrom, who is also one if its founders.