I think that Hillary is likely to win, even though I think that most of O’Malley’s support will end up in the Sanders camp, (O’Malley is also running a liberal populist campaign, like Sanders) because anyone who gets less than 15% in a caucus has to move to another candidate.

I think that it is going to be close though.

I think that Clinton has to win this, because if she loses it, then Sanders will clearly win in New Hampshire, and then South Carolina becomes iffy for Clinton, and Sanders is likely to run the table.

On the other hand, if Sanders loses, he still is likely to win in New Hampshire, particularly with the just announced debate on Thursday, which will be intensely watched by likely New Hampshire Democratic primary voters.

Sanders is, I think, less effected by the results, because his campaign was intended as an issue campaign, and remains that at its core, and could return to that with a minor adjustment.

With his large base of small donors, and a low burn rate, he can run throughout the primaries.

In either case, I do not expect O’Malley to continue his campaign beyond the March. He’s just not getting any traction.