Congresswoman Michele Bachmann (R-MN.) is the first casualty of the Iowa caucus results. After a disappointing sixth-place finish Tuesday, Bachmann announces she is suspending her campaign.
Bachmann thanked her supporters and vowed to continue her fight against President Obama’s policies, which she believes are moving the nation towards Socialism.
Bachmann went on to say that she was motivated to run for president in reaction to the passage of the Affordable Health Care Act (“Obamacare”) and that she will continue to fight for repeal of the entire act.
The Minnesota Congresswoman was left with no path to the GOP nomination as a result of her last-place finish among the candidates contesting the state. The Bachmann campaign simply did not have the funds to mount a fight in South Carolina.
Related: Iowa Caucus Results
After receiving five-percent in her home state of Iowa, there was no possibility that Bachmann could raise the needed funds without taking on personal debt. Unlike some of her opponents, Bachmann does not have the means to fund her own campaign. Iowa was likely the best the Minnesota Congresswoman would have done- it made no sense to continue. Her former campaign manager, Ed Rollins, had called for Bachmann to drop out of the race, and Sarah Palin said she did not “ see a way to progress” for Bachmann.
Texas Gov. Rick Perry has returned to Texas to contemplate his next move. Perry finds himself in much the same position as Bachmann as a result of a poor showing in Iowa. The Perry campaign has said it would take a “few days” to reassess their position.
Perry and Bachmann both were hurt by their weak finishes, but Perry spent much more money in his losing effort. In the weeks leading to the caucuses alone, Perry spent over $3 million. In comparison, due to a lack of funds, Bachmann didn’t even air TV ads until the 48 hours prior to the caucuses. (As a side note, second-place finisher Rick Santorum also spent very little money.)
One major difference between the Perry and Bachmann campaigns is that Perry has the funds on hand to finance a fight in South Carolina. Because funding is not an issue at this point, the question becomes does Perry have the heart to continue his fight? Because his decision is more of an emotional one than was Bachmann’s, it will take longer for Perry to come to his decision.
Perry is not expected to do well in New Hampshire (Romney is leading by double-digits in recent polls) and would have to make a last stand in South Carolina. It is very possible that Newt Gingrich will be making his last stand in the Palmetto state as well and they would split the anti-Romney vote, only helping Romney.
Writers Note: It is likely that Perry will suspend his campaign by the weekend, following Cain and Bachmann out of the race. Because of the time it took Perry to decide to enter the race, I questioned if he had the heart for this fight. It seemed he was being swayed by the chorus of people telling him he would win if he just entered while throwing money at him for a campaign run. A fifth-place finish, after spending much more than the candidates that finished in the second-tier with him, indicates Perry cannot regain any momentum. It may be a better decision at this point for Gov. Perry to return to his day job and save thoughts of the White House for another year.
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