By David McGrath Schwartz

Tue, Aug 12, 2008 (10:10 p.m.)

Reno — They are literally popping champagne at the Bill Raggio campaign party as the Senate Majority Leader squeaked by Sharron Angle by just 500 votes.

There are some votes yet to be counted, but campaign officials for Raggio say the Republican’s lead is insurmountable.

Still the mood at the party at the top floor of the El Dorado hotel in Reno was somber as his supporters clearly expected a wider margin of victory.

When asked if this felt like a victory, the 81-year-old Raggio said: “I’m just glad to get it behind us.”

Raggio significantly outspent his opponent but Angle closed the gap in the last days with aggressive mailers against Raggio.