Michele Bachmann Suspends Presidential Campaign

On Wednesday, after a sixth place showing in the Iowa caucus, U.S. Rep. Michele Bachmann of Minnesota suspended her campaign for the Republican presidential nomination.

Bachmann spoke to the media in West Des Moines on Wednesday morning and called for the repeal of the federal health-care law that President Barack Obama backed. She played down her political ambitions.

2012 is our last chance and our only chance to repeal Obamacare and Dodd-Frank, Bachmann said, before announcing that she was bowing out of the race. I will continue fighting to prevent the presidents agenda of socialism.

Despite high hopes to score well in Iowa, Bachmann flopped badly in Tuesday nights Iowa caucus, taking 5 percent and placing a distant sixth place.

Stressing her roots in the Hawkeye State, Bachmann, a favorite of the tea party movement, scored a big win back in August when she won the Iowa Republican straw poll in Ames. While she experienced a boost in the polls in Iowa and, to a lesser extent, at the national level, Bachmann quickly deflated as conservatives embraced other candidates, including Gov. Rick Perry of Texas, businessman Herman Cain and former U.S. House Speaker Newt Gingrich.