Reporter: This just in: the Iowa caucuses have been cancelled.

An auction is underway on the White House lawn.
Auctioneer: Twenty-five, now thirty, now thirty-five, forty million bid here,

now forty-five, now fifty, fifty million bid. Fifty million going once...
Reporter: The nomination is going to the bidder with the most cash.
Auctioneer: Fifty million going twice. Sold for fifty million dollars.
Lamar Alexander: I'm Lamar Alexander. The presidency ought to be about

raising children and farm prices and standards, not just raising money.

I've been all over Iowa, because the presidency is too important

to be bought or inherited. It ought to be earned.