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Mr. Perry stole some of Mrs. Bachmann’s thunder by announcing his candidacy the same day as the straw poll and then traveling to Waterloo, Iowa, at the same Black Hawk County GOP’s Annual Lincoln Day Dinner as Mrs. Bachmann on Sunday.

At Sunday evening’s dinner, there was no overt or covert sniping between the two candidates, as each gave the audience their usual applause lines — Mr. Perry denouncing Mr. Obama as eager to apologize for the U.S. and Mrs. Bachmann denouncing judicial activism and praising the tea party. Mrs. Bachmann also gave away an apple pie to the oldest mother in the audience — 100-year-old Mary Canfield.

Mr. Pawlenty, who was the first Republican to announce his candidacy, began his bid for the presidency with high hopes.

However, he struggled to gain traction in national polls after a poor performance in a June debate in New Hampshire.

Mr. Pawlenty invested $1 million in his Iowa campaign with hopes that a strong showing in the straw poll could help generate additional buzz and donors.

“He made a big investment, and he doubled down, as we call it, and it didn’t pay off,” Mr. Cain said.

Mr. Romney, the front-runner in national polls and fundraising — perhaps reaching out to some of Mr. Pawlenty’s supporters — was gracious in noting his rival’s departure from the race.

Tim Pawlenty and his entire team ran an honorable campaign. I admire his accomplishments as a two-term governor with a record of results for his state,” Mr. Romney said. “I consider him a friend, and I know he has a bright future ahead of him as a leader in the Republican Party.”

Mr. Pawlenty’s dreams may have been dealt the final blow in the debate Thursday night in Ames, where it appeared he came out on the losing end of a feisty face-to-face exchange with Mrs. Bachmann, who said his stances on environmental regulations, a health care mandate and bigger government spending “sounds a lot like Barack Obama to me.”

Former Arkansas Gov. Mike Huckabee, who won the 2007 straw poll, portended Mr. Pawlenty’s downfall before the final vote was announced.

“Whoever of the two Minnesotans who come out on top, they come out on the shoulders of their teammates, the other one might go out on a gurney,” he said.